U.S. President Joe Biden says he takes inflation very seriously, and the Fed will do its job to control it.”
Biden made statements about the economy at a press conference at the White House. Emphasizing that he is aware that American families are harmed by inflation, Biden said, “I take inflation very seriously, and it’s my priority.”
Biden cited the epidemic and Russian President Vladimir Putin’s war in Ukraine as the causes of inflation. “This is why we see historical inflation rates in countries worldwide,” said President Biden. Pointing to the measures taken to combat inflation, Biden underlined that the USA is in a strong position to overcome inflation.
Referring to the U.S. Federal Reserve’s (Fed) role in fighting inflation, Biden said, “I think our biggest economic problem right now is inflation, and I believe they do too.” Drawing attention to the high energy prices that contributed to inflation, Biden said that oil and gas production in the country approached record levels. The average barrel price of oil followed a flat course throughout the week. Despite making multiple accusations, Biden criticized Republicans for not offering a single solution to the energy crisis.
“I think this guy has some problems,” Biden said after being reminded of Florida Senator Rick Scott’s invitation to resign.
