The head of the US Federal Reserve admits that he can not influence oil prices

Federal Reserve Chairman Jerome Powell said at a hearing in the US Congress that the Fed’s decisions cannot affect oil prices, as well as the cost of a number of other commodities.

“Some (kinds of goods) are out of our control, such as the price of oil and most food. But in Europe, the problem of prices for energy resources and products has become much stronger, ”RIA Novosti quotes Powell. as the saying goes.

Earlier today, U.S. President Joe Biden said, “I’m doing everything I can with historic oil production to counter the effects of Putin’s price hikes.”

Earlier this month, the US Department of Labor announced that US consumer prices rose 8.6% year-on-year in May, the highest since 1981.

By the end of 2021, the US national debt exceeded $30 trillion.

Source: RIA Novosti + RT

Related Stories