White House insists economy is strong as allies grow uneasy about Fed

President Biden and his top advisers insist the U.S. economy remains strong, even as it shows new signs of weakening and the White House’s own allies express unease about the government’s response to rising prices.

As inflation soared over the last year, Biden and his senior aides repeatedly made clear that they were confident that the Federal Reserve could tame rising prices with higher interest rates and other monetary policy tools.

But with Fed Chair Jerome H. Powell moving aggressively, the White House now faces the prospect that these efforts will prove too much and instead tip the economy into a recession.

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