Nationalist Orban said the next U.S. presidential election, when Donald Trump suggests he may seek a second term in the White House, and the vote for the European Parliament would make that a vital year.
Bush made the comments in a speech during an event in Dallas on Wednesday, while he was criticizing Russia's political system. He jokingly blamed the mistake on his age as the audience burst into laughter.
The biggest election night of the year so far delivered mixed results for Trump and his far-right movement, although votes were still being counted in the high-profile Republican Senate primary in Pennsylvania.
In recent months, Fed officials have described pandemic-related supply chain problems, compounded by a restructuring of global energy flows in the wake of Russia's invasion of Ukraine, as a force that could lead to persistent inflation.