Biden administration, Congress ‘going to have to face’ stagflation in the US

Biden administration, Congress 'going to have to face' stagflation in the US

Recastled CEO Kosha Gada says the United States is facing “stagflation” and the Federal Reserve only has the power to impact interest rates – which cannot happen in a vacuum.

Ms Gada said the economic phenomenon came because the country was experiencing a “recession happening at the same time as inflation”.

“That is something the Biden administration and Congress is going to have to face coming into the midterms as well as in ‘24,” she told Sky News host Chris Smith.

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