Federal Reserve Says It Can’t Control Prices of Oil or Most Food Amid Decades-High Inflation

US year-on-year inflation rose to 8.6% in May, reaching levels not seen since 1981. The severe price hike first started to emerge in November 2021, but US politicians – specifically President Joe Biden – began blaming it on the Russian special operation in Ukraine and calling it “Putin’s Tax” amid their inability to curb inflation.

Source: Sputnik News

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