In an attempt to curb high inflation, the Federal Reserve is expected this week to begin raising interest rates for the first time in three years.
The move presents President Biden and Democrats with yet another political challenge from a different end of the economic spectrum than higher prices.
"We need to be honest with the American people — the battle for freedom has its costs here at home, as well," Biden said at the Democratic National Committee's winter meeting last week."People [are] already feeling Putin's price hikes at the pump. I think the American people know how important this fight is. I think they know that as painful as the price is today, the costs are going to be higher if we do not act now to deal with this tyrant.
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