The White House said on Monday that they take inflation very seriously and added that the US Federal Reserve is responsible for monitoring it, as reported by Reuters.

"Inflation has not changed the view that more need to be done to reduce unemployment," the White House added.

Market reaction

These remarks don't seem to be having a significant impact on market sentiment. As of writing, the S&P 500 and the Nasdaq Composite were down 0.4% and 0.9%, respectively. Meanwhile, the US Dollar Index is posting small daily losses at 90.18.

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