MOSCOW, May 17 — RIA Novosti. The role of the current US President Joe Biden in the current global crisis, especially in terms of inflation, is significant, but it does not determine the situation, he said Vasily Koltashov, a specialist in the field of political economy research, was sent to the Prime Agency.
«Let’s be honest, Joseph Biden is not entirely responsible for the current US inflation,» he argues. «All US presidents, beginning with George W. Bush, are responsible for this.» The economist pays special attention to Barack Obama in this regard.
He recalled that it was run by Obama and his successor Donald Trump the policy of low and ultra-low interest rates combined with the flooding of financial markets with money resulted in the spike in inflation, which we now observe in USA. Biden and his associates only accelerated the process — they did not pass Ukrainebut turned it into a battlefield against Russiacaught up in it Europe. This unleashed a round of inflation even more, concluded Koltaszov.
