The American edition of The Hill reports that Biden’s unprincipled approach creates serious risks for the country’s economy.
In the fight against inflation that has reached a 40-year high, the American president has chosen an ineffective method that creates risks for the economy and his political fate.
At the beginning of the month, Joe Biden indicated that he would not attempt to pressure the Federal Reserve to abandon the maximum possible increase in interest rates to slow down prices. But as the Fed ramps up its pace of rate hikes, economists fear the bank will be forced to fuel a recession. This publication reports.
Raising rates will not increase global supplies of oil, wheat, fertilizers and other essential commodities depleted by military action in Ukraine and sanctions against Russia. Speak in a post.