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Politics

Biden says inflation temporary; Fed should do what it deems necessary for recovery

By Steve Holland and Andrea Shalal, Reuters Posted on July 19, 2021
2021-07-19T174537Z_2_LYNXMPEH6I0U0_RTROPTP_4_RETAIL-RESULTS-1200×801-1

U.S. President Joe Biden on Monday said an increase in prices was expected to be temporary, but his administration understood that unchecked inflation over the longer term would pose a “real challenge” to the economy and would remain vigilant.

Biden said he told Federal Reserve Board Chair Jerome Powell recently that the Fed was independent and should take whatever steps it deems necessary to support a strong, durable recovery.

See the full article at amNewYork

Biden says inflation temporary; Fed should do what it deems necessary for recovery

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