Biden Blames Putin For U.S. Inflation. US Fed Chairman Powell Blames Biden's Policies For U.S. Inflation. Who Is Right?

 

Daily Mail: Biden tweets about 'Putin's Price Hike' just moments after Fed chair said president is WRONG to blame Russia for inflation: Powell warns of further interest rate hikes and recession 

* President Joe Biden again blamed inflation on 'Putin's Price Hike' on Wednesday 

* It came soon after Fed chair said Ukraine war is not the primary driver of inflation 

* Powell said that rate hikes will be decided on 'meeting by meeting' basis 

* The central bank will need to see 'compelling evidence' that inflation is coming down to stop the hikes 

* He acknowledged the risk of recession: 'It's certainly a possibility, and the events of the last few months around the world have made it more difficult' 

President Joe Biden has again blamed inflation on 'Putin's Price Hike' just moments after Federal Reserve chair Jerome Powell said that Russia's war in Ukraine was not the main driver of rising consumer prices. 

'I'm doing everything I can to blunt the Putin Price Hike and bring down the cost of gas and food,' Biden wrote in a tweet on Wednesday touting his release of oil from strategic reserves and efforts to help Ukraine export grain.  

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WNU Editor: The below graph gives the answer.