Reply To: Issues 2022

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#2099172
jackk
Participant

Biden, unlike Trump who politicized the Fed, respects the independence of the Federal Reserve.

President Biden never communicated to the Fed what they should do. Never did he tell them to do nothing regarding inflation.

(In fact, if you are a Biden hater, you could accuse him of shifting responsibility to the Fed for inflation. )

Inflation is not an American problem. It is a global issue. Inflation in the Eurozone and UK is over 8 percent.

In April, the U.S. Department of Energy announced that it has awarded contracts for all of the initial 30 million barrels it put up for sale as part of President Biden’s historic Strategic Petroleum Reserve Release. These barrels will be delivered in May and June, and are the first U.S. sale in the largest release from reserves from both the United States and the rest of the world in history. Together, these releases will put more than one million barrels per day on the market over the next six months, and will help address supply disruptions caused by Putin’s further invasion of Ukraine and the Price Hike that Americans are facing at the pump.