China News Agency, Washington, May 10 (Reporter Chen Mengtong) US President Biden delivered a speech on inflation at the White House on the 10th.

He called inflation "the number one challenge for American families." "I take inflation very seriously, and it's at the top of my home affairs agenda."

　　Biden pointed out that the new crown epidemic and the conflict between Russia and Ukraine are the two main reasons for the current high inflation in the United States.

"I know families across America are hurting by inflation."

　　According to data from the U.S. Department of Labor, the U.S. consumer price index (CPI) rose 1.2% month-on-month in March and 8.5% year-on-year.

On the day of Biden's speech, the price of gasoline, which is most felt by the American people, hit a new record high.

According to data from the American Automobile Association that day, the average gasoline price in the United States reached $4.374 a gallon, up $1.4 from a year ago.

　　In order to curb inflation, the Fed accelerated the tightening of "money" in early May, announcing a 50 basis point interest rate hike.

This is the first time the Fed has raised interest rates by 50 basis points since 2000, showing the urgency of tightening monetary policy in the United States.

　　Biden also talked about the importance of the Fed's monetary policy to curb inflation on the same day.

But he said he would not interfere with the Fed's judgments and decisions.

"I think inflation is the biggest economic challenge the U.S. faces right now."

　　In his nearly 30-minute speech that day, Biden did not give specific policy details on how to curb inflation. Instead, he used a lot of space to criticize the economic agenda of the Republican Party in Congress, and used this to compare his own economic policies. Reduce the burden on health insurance, tax and other aspects.

　　The National Public Radio (NPR) analysis believes that there are only 6 months left before the mid-term elections. Biden's speech that day was a response to the pressure of public opinion, and it also reflected that the White House economic agenda has not yet achieved a breakthrough at the legislative level this year.

　　During the question-and-answer session, Biden was asked whether his policies contributed to inflation.

He responded, "Our policies are good, not bad. The vast majority of economists think inflation will be a difficult problem to solve." Biden also declined to give a forecast on when inflation will end.

　　Biden also revealed in response to an inquiry that the U.S. side is currently discussing its tariff policy on China.

"We're looking at what will have the most positive impact."

　　White House press secretary Psaki also responded to the issue of tariffs on China at a subsequent press conference.

She said the U.S. had announced in March the resumption of tariff exemptions for some Chinese imports.

"This is an ongoing review process and we hope to do more."

　　Psaki also said that the current U.S. administration does not believe that the tariffs on China that have been imposed when Biden took office are all beneficial.

"We will continue to evaluate and take action against those tariff policies that we believe are ineffective." (End)