Biden unveils plan for fighting inflation in US

US President Joe Biden outlined his plan to fight high inflation, which includes giving the Federal Reserve a central role in this issue, reducing the burden on families during times of economic instability and reducing the budget deficit.

Report informs that in an article for the Wall Street Journal, Biden said that with the right policy, the US economy can move from recovery to stable growth, and for this transition it is necessary to reduce inflation.

"My plan has three parts: First, the Federal Reserve has a primary responsibility to control inflation... Second, we need to take every practical step to make things more affordable for families during this moment of economic uncertainty—and to boost the productive capacity of our economy over time... Third, we need to keep reducing the federal deficit, which will help ease price pressures," Biden said.

The president said he would 'work with anyone—Democrat, Republican, or independent—willing to have an open and honest discussion that delivers real solutions for the American people.'