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1/19, 10:12 PM (Source: TeleTrader)
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Biden: More productive economy best way to tackle inflation

United States President Joe Biden said on Wednesday that making the economy "more productive" is the best way to tackle high inflation in the country.

Biden stressed that the COVID-19 crisis caused "rapid price increases" across the world, but insisted the "best answer" to tackle the matter is his Build Back Better plan. He also noted the Federal Reserve has provided "extraordinary support" for the economy amid the COVID crisis and noted he respects the central bank's latest decisions to recalibrate its monetary policy.

As he prepares to celebrate one year in office, the US president warned the country's fight with the pandemic is not over yet but remained confident it will get better and the current situation will not be "the new normal." He promised not to go back to lockdowns and noted that the US will be able to get the coronavirus under control thanks to vaccination, testing and other tools.

Baha Breaking News (BBN) / NP