Federal Reserve Chairman Jerome Powell undercut the Biden administration’s attempt to blame Republicans for soaring inflation on Wednesday. What is the background?
Last month, White House press secretary Jen Psaki said President Joe Biden believed “that Republicans are AWOL on the fight against inflation at this pivotal moment in our economy.”
The problem, Psaki indicated, was that Biden’s nominations were not advancing quickly in the Senate (even though Democrats control the chamber).”Everyone understands we need a full Federal Reserve Board — the first one in nearly a decade — to tackle inflation and bring prices down for American families,” Psaki […]
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