Will back Fed on inflation by cutting on demand: US President Joe Biden

Biden said his "predecessor demeaned the Fed, and past presidents have sought to influence its decisions inappropriately during periods of inflation. I won't do this

As US President Joe Biden gets ready to meet US Federal Reserve chairman later on Tuesday, he said that he would support the Fed in its effort to curb high inflation by reducing economic demand, as the central bank is set to lift interest rates at its fastest pace in more than three decades.

“The most important thing we can do now to transition from rapid recovery to stable, steady growth is to bring inflation down,” Biden said, as he agreed with the Fed’s assessment “that fighting inflation is our top economic challenge right now.”

In an opinion piece published in The