HomeFinanceBiden Blames Worldwide Shippers And Russia’s War For Soaring Inflation Rates

Biden Blames Worldwide Shippers And Russia’s War For Soaring Inflation Rates


Inflation is at 8.6 percent, now growing the fastest since 1981. Gasoline, housing and food costs are up. Speaking in Los Angeles, President Biden blamed higher prices on worldwide shippers who are price gouging and Russia’s war in Ukraine. Many economists also blame pandemic-related stimulus money and the FED for not acting sooner. Pressure is building on Federal Reserve Chairman Jerome Powell to raise interest rates faster and bring inflation under control.

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