President Joe Biden said inflation was both a strength and a threat in an apparent gaffe during a Tuesday speech discussing his plans for tackling inflation and lowering costs.
“I agree with what [Federal Reserve Board] Chairman Powell said last week: that the number one threat is the strength, and that strength that we’ve built is inflation,” Biden said. “So the Fed should do its job, and it will do its job, I’m convinced, with that in mind.”
Biden grew more articulate as he continued through his remarks and discussed his plan to address skyrocketing inflation moving forward.
“Now as I said when I came to what Congress and the President can do to fight inflation, Americans have two potential paths forward. First is my plan, the Democratic plan. Plan put forward by congressional Republicans is a second alternative,” Biden said.
“My plan is to lower everyday costs for hardworking Americans,” he said. “The Republican plan is to increase taxes on the middle-class families, let billionaires and large companies off the hook as they raise profit – raise prices and reap profits at record numbers – record amounts, and it’s really that simple.”