Powell Breaks With White House Over Runaway Inflation
(Washington, DC) — The chairman of the Federal Reserve is breaking with the White House on the cause of soaring inflation. During a Senate hearing, Jerome Powell said “inflation was high before” the Russian invasion of Ukraine. The White House has put the blame of inflation, for the most part, squarely on Russia, claiming it’s “Putin’s price hike.” Powell put a big portion of the blame on “ongoing supply chain disruptions.”