Biden holds rare meeting with Fed chair Powell

Yellen admits she was wrong about the path of inflation in 2021

Joe Biden
Joe Biden

US president Joe Biden hosted an unusual meeting with Federal Reserve chair Jerome Powell and Treasury secretary Janet Yellen on May 31 to discuss inflation.

Presidents have in the past used meetings with Fed chairs in a bid to exert pressure over monetary policy, though Biden took pains to stress this was not his intention.

“My plan is to address inflation,” the president said in a statement. “It starts with a simple proposition: respect the Fed and respect the Fed’s independence, which I

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