US President Biden has written an op-ed: Looking back at 2022, I feel more confident about America than ever
On inflation :
- Tackling inflation and giving families more breathing room was and is my top economic priority. We are making important progress transitioning from historic recovery to stable, steady growth. For the last several months wages have been increasing faster than prices, gas prices are at their lowest levels since last summer, and year-over-year inflation has been slowing.
- As I have said, it’s going to take time to get inflation back to normal levels, and we may see setbacks along the way. The Federal Reserve has a primary responsibility to control inflation, and I have appointed highly qualified people to lead that institution, given the critical importance of its dual mandate of maximum employment and stable prices.
On jobs:
- The economy has created more than 10 million jobs since I took office, and the unemployment rate is near a 50-year low.
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On Thursday in the US we got strong economic data:
Given the strong data and Biden's commitment to containing inflation its not a stretch to see further Federal Reserve rate hikes coming right up! The USD rose during Thursday in the US, on this basis.
