1/ Biden, calling inflation his “top economic priority,” met with Federal Reserve Chair Jerome Powell and outlined a three-part plan to tackle high prices. Biden said the Fed has “a primary responsibility to control inflation” and that he’s “not going to interfere with their critically important work.” Biden added: “The most important thing we can do now to transition from rapid recovery to stable, steady growth is to bring inflation down.” The Fed is currently in the process of raising interest rates at the most aggressive pace since the 1980s to cool demand to moderate price pressures. (Politico / Wall Street Journal / New York Times / Bloomberg / Associated Press)
This is a companion discussion topic for the original entry at https://whatthefuckjusthappenedtoday.com/2022/05/31/day-497/