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AP

Biden calls on Fed to fight inflation

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At a Wednesday news conference marking his first year in office, President Joe Biden called on the Federal Reserve to do more to fight inflation by pulling back on its monetary boosting of the U.S. economy. Inflation at nearly a 40-year high has dogged the Biden administration, causing his public support to tumble even as economic growth and hiring has surged. “Given the strength of our economy, and the pace of recent price increases, it’s important to recalibrate the support that is now necessary," the president said in his opening remarks.

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