President Joe Biden remained optimistic regarding a possible interest rate cut by the Federal Reserve in the face of the latest economic troubles of surging inflation. Although the recent information shows a re-acceleration in inflation across the United States, the president remains optimistic.
This situation creates serious problems for the economy by affecting the level of the consumer demand and influencing the monetary policy decisions.
The administration has been concentrating on the nature of inflation that is reflected in the increasing Consumer Price Index (CPI). The latest data from the Labour Department indicated an increment of 0.4 % in the CPI of the previous month, which represents an annual increase of 3.5 %. This figure is in line with economists’ expectations after some months of unexpectedly high inflation rates.
Political Implications and Biden’s Economic Strategy
The economic conditions are crucial for the political fate of President Biden, especially at the th
We współpracy z: https://coingape.com/president-biden-remains-hopeful-on-rate-cuts-despite-inflation-surge/
