Biden’s Plan to Combat Rising Inflation: House Republicans Take Action
In the wake of reports of the Federal Reserve’s Preferred gauge noting a rise in inflation in January, President Joe Biden says the US has made progress on inflation.[0] The president remarked that inflation for the year has decreased since the summer, and unemployment is still at an all-time low of 50 years.[1]
Despite these positive steps, inflation continues to be a topic of concern for the US.[2] High inflation will continue to dog Biden's presidency for as long as it persists and presents the threat of a recession if the Fed cannot get inflation under control without continuing to spike interest rates.[3]
House Republicans are taking action in response to Biden's inflationary policies, introducing legislation next week that would require the White House to analyze how major executive orders will affect prices across the U.S. economy before issuing those orders.[4]
“Joe Biden and his administration have doubled down on their Far-Left tax and spend agenda that has continued to exacerbate this inflation crisis,” said Congresswoman Elise Stefanik.[4] She underlined the importance of monitoring the Biden administration's “irresponsible policies that are causing inflation.”[4]
The President is determined to make progress on inflation, but there is still work to be done. The House Republicans' legislation will be a major step in curbing inflation and ensuring economic stability for the US.
0. “Former Obama economist says ‘little if any progress' made on inflation under Biden” Fox News, 24 Feb. 2023, https://www.foxnews.com/politics/former-obama-economist-says-little-progress-made-inflation-biden
1. “Statement from President Joe Biden on January PCE Report” Q'Hubo News, 24 Feb. 2023, https://www.qhubonews.com/statement-from-president-joe-biden-on-january-pce-report/
2. “President Joe Biden Says US Has Made Progress on Inflation” Watcher Guru, 24 Feb. 2023, https://watcher.guru/news/president-joe-biden-says-us-has-made-progress-on-inflation
3. “Biden says ‘we have more work to do' as inflation unexpectedly rises” Washington Examiner, 24 Feb. 2023, https://www.washingtonexaminer.com/news/white-house/biden-says-we-have-more-work-to-do-as-inflation-unexpectedly-rises
4. “Republicans Look to Curb Biden's ‘Reckless Policies Fueling Inflation'” Washington Free Beacon, 21 Feb. 2023, https://freebeacon.com/biden-administration/republicans-look-to-curb-bidens-reckless-policies-fueling-inflation
