My approach to combat inflation says US Vice President Joe Biden. — Wall Street Journal

The US president, Joe Biden, in an editorial story in the Wall Street Journal (WSJ), defined a three-part plan to fight against inflation.

May 31, 2022 - 11:42 AM 296 views

"My approach to combat inflation," says US Vice President Joe Biden. — Wall Street Journal

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© "My approach to combat inflation," says US Vice President Joe Biden. — Wall Street Journal

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The US president, Joe Biden, in an editorial story in the Wall Street Journal (WSJ), defined a three-part plan to fight against inflation.

Important Quotes

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 movements.

We must strive hard to lower the federal deficit that can help to alleviate the cost pressures.

On Tuesday, 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 judgments."

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%.

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