Trump says inflation is ‘killing our country’ under Biden

Former US President and Republican presidential candidate Donald Trump looks on as he participates in the first presidential debate of the 2024 elections with US President Joe Biden at CNN's studios in Atlanta, Georgia, on June 27, 2024. (AFP)
Short Url
Updated 28 June 2024
Follow

Trump says inflation is ‘killing our country’ under Biden

ATLANTA: Donald Trump accused Joe Biden on Thursday of doing a “poor job” on the US economy and of presiding over a disastrous rise in inflation — reflecting how rising prices and the cost of living have become key issues ahead of November’s presidential election.

“He has not done a good job. He’s done a poor job,” Trump said during CNN’s head-to-head debate with Biden in Atlanta, Georgia. “And inflation is killing our country. It is absolutely killing us.

“I gave him a country with essentially no inflation. It was perfect. It was so good, all he had to do is leave it alone.” he added. “He destroyed it“

In response to Trump’s attacks on his record, Biden said Trump had “absolutely decimated” the US economy when he was president.

“There was no inflation when I became president. You know why? The economy was flat on its back,” he said, adding that his administration had helped create “millions” of new jobs, including in minority communities.

Americans have named inflation or the cost of living as “the most important financial problem facing their family,” in each of the last three years, according to a recent poll from the Washington-based firm Gallup.

Perhaps more worryingly for Biden, 46 percent of adults in the United States said they have “a great deal” or “a fair amount” of confidence in Trump to do or recommend the right thing for the economy, while just 38 percent said the same thing about the current president, according to another Gallup poll.

While it is true that US consumer inflation jumped sharply after Biden took office, hitting a multi-decade high in 2022, the rise was largely fueled by a post-pandemic supply crunch and by Russia’s invasion of Ukraine.

In response, the US Federal Reserve hiked its key lending rate from almost zero to a two-decade high of between 5.25 and 5.50 percent — where it has remained for the past year.

Higher interest rates cool down the economy by raising borrowing costs for consumers and businesses, indirectly impacting everything from mortgage rates to auto loans.

Inflation has eased sharply since the Fed started hiking rates, but remains stuck stubbornly above its long-term target of two percent — keeping the US central bank on pause as it waits for more positive data.

Because inflation has remained high for a number of years, consumer prices have now risen by around 20 percent since January 2021, when Biden took office, according to the Labor Department’s consumer price index (CPI) inflation calculator.

In contrast, consumer prices rose by less than six percent during the same timeframe under Trump.

Although Congress has given the Fed the mandate to tackle inflation on its own, it is still a difficult topic for Biden, who has looked to talk up his economic record ahead of November’s election.

The Fed expects inflation will continue to ease this year and next, before hitting its long-term target of two percent in 2026.

But the path to two percent will likely depend on who becomes president in November — and which parties will control the House of Representatives and the Senate.

Trump has suggested that, if he wins the election, he will look to extend a series of tax cuts made under his leadership, severely restrict immigration, deport some foreign-born illegal immigrants and slap tariffs on all US imports.

These policies would all “likely be inflationary,” by putting up prices, placing upward pressure on wages and boosting adding to the nation’s debt, JP Morgan economists wrote in a recent note to clients.

As things stand, Republican control of the House, Senate and the White House is not the most likely scenario come November, Oxford Economics lead US economist Bernard Yaros wrote in a recent note to clients.

“If Biden is reelected but presides over a divided government, the upside risk potential to the economy from fiscal policy is limited,” he said.

“If Trump returns to the White House with a divided government, he will have a tougher time enacting his fiscal agenda,” he added.


Two-state solution ‘the only answer,’ Pakistan’s deputy prime minister says ahead of landmark conference in New York

Updated 27 July 2025
Follow

Two-state solution ‘the only answer,’ Pakistan’s deputy prime minister says ahead of landmark conference in New York

NEW YORK: As the world watches in horror at the unfolding tragedy in Gaza, international efforts to revive the long-stalled two-state solution for Palestine and Israel are intensifying.

From July 28-30, a high-profile conference co-chaired by France and Saudi Arabia will take place in New York City, aiming to chart a path toward peace and the realization of a sovereign Palestinian state. Pakistani Deputy Prime Minister and Foreign Minister Ishaq Dar spoke to Arab News about Pakistan’s unwavering support for the initiative and the urgent need to address the humanitarian crisis in Gaza.

The upcoming conference seeks to reinvigorate the stalled peace process by focusing on concrete steps toward establishing two independent states, Israel and Palestine. 

Delegates from key nations and international bodies will converge in New York City at the UN headquarters to discuss ceasefire arrangements, humanitarian access, reconstruction efforts and political recognition of Palestine.

Dar highlighted Pakistan’s longstanding position on the Palestinian issue.

“You see, this issue has become already too late in handling,” he said. “The attempt by France and Kingdom of Saudi Arabia is very appreciable. These two countries have taken this initiative. Pakistan has a clear foreign policy for decades, that the two-state solution is the only answer to the Palestine problem.”

Dar laid out Pakistan’s hopes for the summit: “I hope that serious efforts are made during this event; first, to secure an immediate ceasefire; and second, to ensure the unhindered flow of food, humanitarian aid and medical assistance — alongside progress toward the recognition of Palestine as an independent state.”

The event comes amid escalating violence and mounting international concern over Gaza, with many legal experts and humanitarian organizations increasingly describing the situation in the enclave as a a genocide.

The humanitarian situation there continues to worsen. Gaza has for almost two years now suffered relentless airstrikes and ground incursions, resulting in thousands of civilian casualties, widespread destruction of infrastructure and critical shortages of food, water and medical supplies, with international organizations now warning of a looming full-scale famine. 

Acknowledging the devastating conditions in Gaza, Dar described the conference’s potential success: “If we are able to achieve all these objectives, it will be a great success and a highly commendable contribution by the Kingdom of Saudi Arabia and France.” 


At least 11 people were stabbed at a Walmart in Michigan, and a suspect is in custody

Updated 27 July 2025
Follow

At least 11 people were stabbed at a Walmart in Michigan, and a suspect is in custody

  • Michigan State Police said the attack happened in Traverse City, a popular vacation spot on the coast of Lake Michigan

TRAVERSE CITY, Michigan: At least 11 people were stabbed at a Walmart in Traverse City on Saturday — with six in critical condition — in what the sheriff said appeared to be a random act. A suspect was in custody, authorities said.
“Eleven is 11 too many, but thank God it wasn’t more,” Grand Traverse County Sheriff Michael Shea told reporters.
Emergency vehicles and uniformed first responders were seen outside the store following the incident.
Tiffany DeFell, 36, who lives in Honor, about 25 miles from Traverse City, said she was in the parking lot when she saw chaos erupt around her.
“It was really scary. Me and my sister were just freaking out,” she said. “This is something you see out of the movies. It’s not what you expect to see where you’re living.”
Munson Healthcare said via social media that 11 people were being treated at the region’s largest hospital in northern Michigan. Spokesperson Megan Brown said all were stabbing victims. Six were critical and five were in serious condition late Saturday, she said.
Shea said the weapon involved appeared to be a folding-style knife. Earlier in the day, the Michigan State Police said the suspect had been taken into custody. Shea said the suspect is believed to be a Michigan resident but declined to share further details.
Gov. Gretchen Whitmer said: “Our thoughts are with the victims and the community reeling from this brutal act of violence.”
Walmart said in a statement that it would continue to work closely with law enforcement in the investigation.
“Violence like this is unacceptable. Our thoughts are with those who were injured and we’re thankful for the swift action of first responders,” the statement said.
FBI Deputy Director Dan Bongino said in a social media post that bureau officials were responding to “provide any necessary support.”
Traverse City is a popular vacation spot on the coast of Lake Michigan. It is known for its cherry festival, wineries and lighthouses and is about 25 miles (40 kilometers) east of Sleeping Bear Dunes National Lakeshore.

 


Wildfire burns through northern suburb of Greece’s capital Athens and residents are told to evacuate

Updated 26 July 2025
Follow

Wildfire burns through northern suburb of Greece’s capital Athens and residents are told to evacuate

  • Greece has asked for six firefighting planes from the European Union’s Civil Protection Mechanism
  • Four ambulances are treating at least five residents, most of them elderly with respiratory problems

ATHENS: A wildfire burned through a northern suburb of the Greek capital of Athens on Saturday and some residents were ordered to evacuate, the country’s Fire Service reported.

Residents of the town of Kryoneri, 20 kilometers (12.5 miles) northeast of Athens received 3 SMS messages to evacuate to safe areas, Fire Service spokesman Vassilis Vathrakoyannis told reporters.

Greek media have shown houses on fire. The spokesman said “there have been reports of damages. We will take stock when the fires have been put out.”

“The real difficulties are ahead of us,” Vathrakoyannis said, adding that Greece has asked for six firefighting planes from the European Union’s Civil Protection Mechanism.

On site, 145 firefighters and 44 fire engines, 10 firefighting planes and seven helicopters are attempting to put out the fire, whose origin is unknown. Four ambulances are treating at least five residents, most of them elderly with respiratory problems.

Temperatures reaching, or exceeding, 38 degrees Celsius (100 degrees Fahrenheit), dry conditions and high winds are fanning the flames.

Under such conditions wildfires “expand very quickly and become dangerous. These conditions are expected to prevail over the coming days,” Vathrakoyannis said.

The fire service is also dealing with three other major fires in the southwest on Greece’s two largest islands — Crete in the south and Evia north of Athens — and also on the island of Kythera, northwest of Crete. At least 335 firefighters, 19 planes and 13 helicopters are involved, but can only operate in daylight. In total, 52 wildfires broke out across the country over the past 24 hours, the spokesman said.

Wildfires, many of them destructive, have become a common occurrence in Greece in recent years. Several have broken out in the past month.


Pope Leo discusses war in Ukraine with Russian Orthodox Church official

Updated 26 July 2025
Follow

Pope Leo discusses war in Ukraine with Russian Orthodox Church official

  • Since assuming the papacy in May, Leo has repeatedly appealed for peace in global conflicts
  • Russian officials, however, have said they do not view the Vatican as a serious venue for talks

VATICAN CITY: Pope Leo discussed the war in Ukraine on Saturday with Metropolitan Anthony, a senior cleric in the Russian Orthodox Church, in a possible effort to ease ties between the churches strained by Russia’s invasion.

Leo saw Anthony, chairman of the department of external church relations, and five other high-profile clerics during an audience in the morning, the Vatican said.

“During the conversation, numerous issues were raised concerning the state of Orthodox-Catholic dialogue, as well as the ongoing conflicts in the world, including in Ukraine and the Middle East,” the Russian Orthodox Church said in a statement.

Since assuming the papacy in May, Leo has repeatedly appealed for peace in global conflicts and this month told visiting Ukrainian President Volodymyr Zelensky that the Vatican was willing to host Russia-Ukraine peace talks.

Russian officials, however, have said they do not view the Vatican as a serious venue for talks because it is surrounded by NATO member Italy which has supported Ukraine.

The head of Russia’s Orthodox Church, Patriarch Kirill, has been an enthusiastic backer of the
invasion of Ukraine.

The Russian church statement said that Kirill’s congratulations were conveyed to Leo for his election as pope.

“Pope Leo XIV expressed his gratitude to his holiness patriarch Kirill for his good wishes and noted the importance of developing relations with the Russian Orthodox Church,” it added.


David Nabarro, British physician who led UN response to Ebola and COVID-19, dies

Updated 26 July 2025
Follow

David Nabarro, British physician who led UN response to Ebola and COVID-19, dies

  • “David was a great champion of global health and health equity,” Tedros wrote
  • “His work touched and impacted so many lives across the world”

GENEVA: Dr. David Nabarro, a British physician who led the UN response to some of the biggest health crises in recent years, including bird flu, Ebola and the coronavirus pandemic, has died.

Tedros Adhanom Ghebreyesus, director-general of the World Health Organization, confirmed Nabarro’s death on social media platform X.

“David was a great champion of global health and health equity, and a wise, generous mentor to countless individuals,” Tedros wrote Saturday. “His work touched and impacted so many lives across the world.”


King Charles knighted Nabarro in 2023 for his contributions to global health after he served as one of six special envoys to the WHO on COVID-19. He won the 2018 World Food Prize for his work on health and hunger issues.

He also was a candidate for the top job at the WHO in 2017 but lost out to Tedros in the final round of voting. Nabarro left the UN later that year.

The 4SD Foundation, a social enterprise in Switzerland focused on mentoring the next generation of leaders in global sustainable development, said its strategic director died at his home Friday in a “sudden passing.” Other details were not immediately available.

“David’s generosity and unwavering commitment to improve the lives of others will be sorely missed,” the foundation wrote on its website Saturday.

Survivors include his wife, Flo, as well as his five children and seven grandchildren.