Joe Biden said that during his entire term in office he never communicated with Federal Reserve Chairman Jerome Powell, even though he received him at the White House. The US president made this statement during his speech at the Economic Club of Washington.
“Unlike my predecessor, I respect the independence of the Federal Reserve as long as it works within its mandate to reduce inflation. This independence has served the country well. By the way, I have never spoken to the head of the Federal Reserve since I took office.” – Biden said, as quoted by RIA Novosti.
Joe Biden met with Powell and the head of the Treasury at the White House Janet Yellen in 2022.
“With inflation at a 40-year high, Biden met with Federal Reserve Chairman Jerome Powell on Tuesday and pledged to give him room to combat rising consumer prices,” Yahoo reported on June 2, 2022.
“My plan to combat inflation starts with a simple proposition: Respect the Federal Reserve. Respect the independence of the Federal Reserve,” Biden said at the time in brief remarks before the 41-minute meeting in the Oval Office.
