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News Wrap: Biden defends his economic policies amid rising inflation

In our news wrap Tuesday, President Biden defended his economic policies in the face of the worst inflation in 40 years and said his proposal for taxing billionaires could bring down rising costs. Also, Treasury Secretary Janet Yellen argued abortion rights are key to economic health, the rate of U.S. gun killings jumped 35 percent in 2020, and South Korea’s new president takes office.