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Biden promises action on inflation concerns

President Biden is facing huge kickback in the polls as a result of high inflation, hurting his party politically ahead of this year's midterm elections.Biden has tasked the Federal Reservewith handling inflationand it is being criticisedfor moving too late to raise interest rates in an attempt to cool the economy.

Is Biden likely to blame the Fed for the poor inflation response? Unlikely - it was he who nominated Chairman Jerome Powell to a second term, the Senate confirmed him on Thursday, and it could seem politically weak to attempt to shift the blame.

Instead, Biden is focusing on measures that can cool the economic growth without tipping the country back into recession.

A White House statement on inflation reads: "Inflation is too high and is putting a strain on working families. The Presidents top economic priority is tackling inflation and reducing costs for American families so we can sustain this historic economic recovery in a way that benefits all Americans."

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