Joe Biden: My Plan for Fighting Inflation - WSJ Opinion

First, the Federal Reserve has a primary responsibility to control inflation.

The title is his plan to fight inflation.

His first bullet point is to say it’s not his responsibility.

Last week the nonpartisan Congressional Budget Office projected that the deficit will fall by $1.7 trillion this year—the largest reduction in history. That will leave the deficit as a share of the economy lower than prepandemic levels and lower than CBO projected for this year before the American Rescue Plan passed. This deficit progress wasn’t preordained.

He’s right, it wasn’t preordained. Without the American Rescue Plan and the decades high inflation that it produced, we defiantly wouldn’t have seen this deficit reduction.

Also, to save you some time, the word of the week is “transition.” Not to be confused with last week’s “transitory.”