President Joe Biden is set to meet with Federal Reserve Chairman Jerome Powell as soaring inflation takes a bite out of Americans’ pocketbooks and the president’s public approval.
Tuesday’s meeting is the first since Powell was renominated by Biden to lead the central bank in November and comes two weeks after his confirmation for a second term by the Senate. It also represents something of a reversal by Biden as inflation has evolved as a threat. The president asserted in April 2021 that he was “very fastidious about not talking” with the independent Fed and wanted to avoid being seen as “telling them what they should and shouldn’t do.”
