Biden: Truss plan a ‘mistake’ amid ‘worldwide inflation’

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BidenPresident

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PORTLAND, Ore. (AP) — President Joe Biden on Saturday called embattled British Prime Minister Liz Truss’ abandoned tax cut plan a “mistake,” and said he is worried that other nations’ fiscal policies may hurt the U.S. amid “worldwide inflation.”

Biden said it was “predictable” that the new prime minister on Friday was forced to walk back plans to aggressively cut taxes without identifying cost savings, after Truss’ proposal caused turmoil in global financial markets. It marked an unusual criticism by a U.S. president of the domestic policy decisions of one of its closest allies.

https://apnews.com/article/biden-in...ts-liz-truss-295aabbf10a1b4d9d25c55ec143caae6
 
BidenPresident said:
PORTLAND, Ore. (AP) — President Joe Biden on Saturday called embattled British Prime Minister Liz Truss’ abandoned tax cut plan a “mistake,” and said he is worried that other nations’ fiscal policies may hurt the U.S. amid “worldwide inflation.”

Biden said it was “predictable” that the new prime minister on Friday was forced to walk back plans to aggressively cut taxes without identifying cost savings, after Truss’ proposal caused turmoil in global financial markets. It marked an unusual criticism by a U.S. president of the domestic policy decisions of one of its closest allies.

https://apnews.com/article/biden-in...ts-liz-truss-295aabbf10a1b4d9d25c55ec143caae6
Click to expand...

What's causing even more turmoil is Biden's spending spree and and the Fed interest rate hikes which has caused the dollar to rocket upwards against leading world currencies.
 
BidenPresident said:
PORTLAND, Ore. (AP) — President Joe Biden on Saturday called embattled British Prime Minister Liz Truss’ abandoned tax cut plan a “mistake,” and said he is worried that other nations’ fiscal policies may hurt the U.S. amid “worldwide inflation.”

Biden said it was “predictable” that the new prime minister on Friday was forced to walk back plans to aggressively cut taxes without identifying cost savings, after Truss’ proposal caused turmoil in global financial markets. It marked an unusual criticism by a U.S. president of the domestic policy decisions of one of its closest allies.

https://apnews.com/article/biden-in...ts-liz-truss-295aabbf10a1b4d9d25c55ec143caae6
Click to expand...

The Truss plan is obviously a mistake, which has failed badly. And it is moderate compared to the mistakes that Republicans will demand.
 
Truss resumed QE which undermined any good the rest might have done with predictable results.

So all you bemoaning rate hikes and calling for more disasterous liquidity, pay attention.
 
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