'Inflation Was High Before Ukraine': Powell Tosses Biden Back Under The Bus

At the end of May, amid a flurry of scapegoating over surging prices and plunging approval ratings, President Biden seized on an Oval Office meeting with Fed Chair Powell to argue that while fighting price increases is his top priority, that work was primarily the purview of the Federal Reserve.

“My plan is to address inflation. That starts with a simple proposition: respect the Fed, respect the Fed’s independence, which I have done and will continue to do,” Biden said.

Addittionally, Biden placed the blame for Americans’ suffering squarely on the shoulders of Russian president Vladimir Putin and his ‘Putin Price Hike’…

As we have noted numerous times, this is just farcical spin as the following chart shows consumer prices were accelerating dramatically well before the Russian invasion of Ukraine…

Keep reading this article on Zero Hedge - Blog.

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