text:  Brown tried to pin the blame for higher prices on greedy corporations, while Republicans, like South Carolina Senator Tim Scott, blamed the president. Joe Biden broke this economy, and it's been very difficult to fix it. Powell, who generally enjoys bipartisan support in Congress, tried to steer clear of the politics and focus on the Fed's own mission of promoting stable prices and maximum employment. Countries throughout the world were plagued by high inflation in the wake of the pandemic and Russia's invasion of Ukraine.