Biden Plots Inflation Fight With Fed Chair As Nation Worries

The video discusses the economic challenges facing the Biden administration, including inflation and high gas prices. President Biden's plan to combat inflation involves empowering the Federal Reserve, promoting clean energy tax credits, and reducing the federal deficit through higher taxes on corporations and billionaires. The plan also includes measures to lower costs for families, such as capping insulin prices and reducing childcare costs. However, the success of these measures depends on Congress, particularly the Democrats, who need to agree on a budget reconciliation package to pass the proposed bills.

What is the significance of the Congressional Budget Office's report on the federal deficit?

What challenges do Democrats face in passing President Biden's economic plan?