On Friday's broadcast of CNBC's "Squawk Box," Sen. Bill Cassidy (R-LA) said the Biden administration has engaged in the same contradictory economic approach of engaging in a stimulatory fiscal policy through things like canceling student loan debt and the American Rescue Plan while, on the monetary policy side, the central bank is increasing interest rates in an effort to combat inflation that UK Prime Minister Liz Truss and the Bank of England have received widespread condemnation for taking.