The White House responded to the Fed’s rate hike on the 2nd as “an economy that benefits workers’ families with stable and steady growth and low inflation.”
“The Fed is an independent institution, and we respect that independence,” White House press secretary Carine Jean-Pierre said at a briefing.
“The Fed action has helped reduce inflation,” he said. “As mortgage rates rise, demand in the housing market will continue to subside and inventories will rise, which will have the effect of lowering home price inflation.”
“This is a transition to the more stable and steady growth that the White House economics team and I and the President (Joe Biden) have been talking about,” he added.
The White House’s position seems to be to give the impression that inflation, the biggest issue in the midterm elections scheduled for the 8th, is being caught.
As voters, tired of high inflation, criticize the Biden administration’s economic situation, there are speculations that the Democrats could vote for the House as well as the Senate.