May 31, 2022 - 11:42 AM 296 views
The US president, Joe Biden, in an editorial story in
the Wall Street Journal (WSJ), defined a three-part plan to fight against
I won’t hinder
with the Fed, but I will handle increased costs along with guiding the
economy's transition for stable and steady economic and fiscal growth.
Three-Part Plan Summary
Although I agree
with the Federal Reserve (Fed) assessment, our top economic challenge is to
fight against inflation.
I directed the
biggest release of global oil reserves in history, and Congress could have
helped us better by passing the clean energy tax credits and investments that I
had proposed earlier. Moreover, we can even lower the prices of everyday goods
by repairing broken global chains, boosting infrastructure and constraining the
enormous fees that those foreign ocean freight enterprises charge for product
We must strive hard to lower the federal deficit
that can help to alleviate the cost pressures.
prior to the meeting with the Fed Chief Jerome Powell, the US president, Biden,
said that the US central bank is primarily responsible for controlling
inflation rates and swore not to try to "inappropriately influence its
The Market Reaction
The US dollar Index (DXY) rises to 102.00 points when the risk sentiment declines amid of the mixed China data.So far, the S&P Futures are fell by 0.42%.