Biden knocks Truss economic plan, says he is not concerned about dollar strength - Reuters UK

PORTLAND, Ore., Oct 15 (Reuters) - U.S. President Joe Biden connected Saturday criticized British Prime Minister Liz Truss's archetypal economical program arsenic a mistake and said helium was not acrophobic astir the spot of the soaring U.S. dollar.

Truss connected Friday fired her concern curate Kwasi Kwarteng and scrapped parts of their economical bundle aft it sparked fiscal marketplace turmoil, including a steep dive successful the worth of the pound.

Biden, a Democrat, often criticizes blimpish "trickle down" economical policies, associated successful the United States with erstwhile President Ronald Reagan and Republicans.

His White House, though, had antecedently declined to remark connected the Truss plan, which initially foresaw scrapping Britain's 45% apical income taxation rate.

"I wasn't the lone 1 that thought it was a mistake," Biden told reporters during a halt astatine an crystal pick store successful Oregon, referring to the Truss proposal.

"I deliberation that the thought of cutting taxes connected the ace affluent astatine a clip erstwhile - anyway, I conscionable deliberation - I disagreed with the policy, but that’s up to Great Britain to marque that judgment, not me."

Earlier connected Saturday Britain's caller concern curate Jeremy Hunt said immoderate of the country's taxes would spell up and pugnacious spending decisions were needed, saying Truss had made mistakes arsenic she battles to support her occupation conscionable implicit a period into her term.

High ostentation is afflicting the United States and countries worldwide, creating a governmental headache for Biden up of the November midterm elections successful which power of the U.S. House of Representatives and Senate are astatine stake.

The dollar has soared against different currencies.

"I'm not acrophobic astir the spot of the dollar. I'm acrophobic astir the remainder of the world," Biden said.

The president said the U.S. system was robust.

"Our system is beardown arsenic hellhole - the internals of it. Inflation is worldwide. It's worse disconnected everyplace other than it is successful the United States," helium said.

"So the occupation is the deficiency of economical maturation and dependable argumentation successful different countries, not truthful overmuch ours."

A Labor Department study connected Thursday showed U.S. user prices accrued much than expected successful September arsenic rents surged and the outgo of nutrient rose.

The president made his comments astatine the extremity of a multi-day occidental plaything that concluded successful Oregon, wherever helium sought to springiness a governmental boost to Democrat Tina Kotek, who is moving for governor.

Reporting by Jeff Mason successful Portland, Oregon; Additional reporting by by Mike Stone successful Washington; Editing by Sandra Maler and Tom Hogue

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