The head of the US Federal Reserve Service (FRS), Jerome Powell, reminded US President Joe Biden that Russian leader Vladimir Putin should not be blamed for record inflation in the country. It is reported by Fox News.
When, during a Senate hearing, a member of the US Republican Party, Bill Hagerty, asked the head of the Fed what caused the rise in prices in the country and whether it could be derived from Russia’s actions in Ukraine, Powell said that high inflation was in the US even before the special operation.
Hagerty, in turn, noted that he was glad to hear this, but the Biden administration is trying to exonerate itself of the blame. The current authorities, according to the senator, shift the responsibility for economic failures to Russia.