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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: sylvester80 who wrote (1358254)	5/11/2022 6:56:58 PM
From: Broken_Clock	Respond to of 1572777

"the FED is 100% to blame with their total garbage "inflation is transitory" bull sht..." you sound like an irate republican...-vbg- but the real problem is at 1600 Penn July 19, 20218:46 AM HSTLast Updated 10 months ago Biden says inflation temporary; Fed should do what it deems necessary for recovery By Steve Holland and Andrea Shalal 2 minute read Register now for FREE unlimited access to Reuters.com WASHINGTON, July 19 (Reuters) - U.S. President Joe Biden on Monday said an increase in prices was expected to be temporary, but his administration understood that unchecked inflation over the longer term would pose a "real challenge" to the economy and would remain vigilant. Biden said he told Federal Reserve Board Chair Jerome Powell recently that the Fed was independent and should take whatever steps it deems necessary to support a strong, durable recovery. "As our economy comes roaring back, we've seen some price increases," Biden said, while rejecting concerns the recent increases could be a sign of persistent inflation.* He said his administration was doing all it could to address supply chain bottlenecks that had pushed up the price of cars, and noted that lumber prices were now easing after spiking higher early in the recovery. "I want to be clear: my administration understands that were we ever to experience unchecked inflation in the long term, that would pose a real challenge for our economy," he said. "While we're confident that isn't what we're seeing today, we're going to remain vigilant about any response that is needed."