Economics
Biden Says Inflation Fight Starts With Powell’s Fed, Jabs GOP
- Labor Department report shows April prices exceeding forecasts
- Republicans blame Biden policies; he says they have no plan
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President Joe Biden said that the Federal Reserve has primary responsibility for fighting inflation, placing the burden for his party’s top political problem with the central bank after a report Wednesday showed continuing price spikes.
Biden called inflation “unacceptably high” and said that “bringing it down is my top economic priority” in a statement following a Labor Department report that showed the consumer price index climbed faster than economists had expected in April.