President Biden says the Federal Reserve has the job of addressing soaring inflation, as he continues to press for trillions more in government spending
's independence while urging the Senate to quickly confirm his five nominees for the Fed's Board of Governors, pointing out that his picks hold "a variety of ideological perspectives" and that the group is "historically diverse."
Biden said the White House has developed plans of its own to assist in fighting inflation through addressing supply chain bottlenecks, promoting competition in market sectors where "a handful of giant companies dominate," and working to pass the multi-trillion-dollar Build Back Better Act that has stalled in Congress.
When questioned during the presser over the fact that the proposed Build Back Better legislation appears to be dead in Congress for now, Biden said he might be able to get some of it passed by breaking it into smaller bills.
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