Highlights

  • US facing 40-year high inflation
  • Biden said he would support the Federal Reserve in its effort to combat high inflation

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US President Biden publishes opinion piece in the WSJ, here is what he says

US President pens his attack on price rise: 'My Plan for Fighting Inflation'

As the cost of living crisis escalates, US President detailed his strategy to combat inflation in a rare opinion piece published in the Wall Street Journal (WSJ) titled: "Joe Biden: My Plan for Fighting Inflation"

America faces the highest level of inflation in 40 years and also the steepest rate hikes in over three decades and Biden has outlined a three part plan in the WSJ to counter it.

Biden's Plan Part 1: Back The Fed
The 79 year old President agreed with the US Federal Reserve on their inflation assessment and made it aptly clear that he is backing the leadership at the central bank under Jerome Powell.

Biden's Plan Part 2: Make It Affordable
Acknowledging the pressure from the Russia-Ukraine war but reiterating that Putin must be 'put in his place' Biden assures citizens that the US Govt will do everything to make things affordable again. He urged Congress to passing clean energy tax credits that would ease utility bills. Biden also called out exorbitant fees that foreign ocean freight are charging adding to the price pressures.

Biden's Plan Part 3: Mind The Deficit
The Democratic president reminded the readers that amid all this keepig a watch on the deficit was essential as it in turn will help ease price pressures.

The US President signs off the article seeking opinions and comments. The President also made a call for bipartisan working as he wrote "I will work with anyone—Democrat, Republican, or independent—willing to have an open and honest discussion that delivers real solutions for the American people.Joe Biden"


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