President Biden, Fed Chairman Jerome Powell Meet With Inflation at Its Highest in 40 Years

President affirms ‘laser focus on addressing inflation’ while letting central bank do its work

President Biden said during a meeting with Federal Reserve Chairman Jerome Powell Tuesday that he will continue to respect the Federal Reserve's independence as it addresses inflation, which he called his administration’s top priority. Photo: Kevin Dietsch/Getty Images

President Biden discussed steps to address high inflation at a White House meeting with Federal Reserve Chairman Jerome Powell as his administration signals growing urgency to ease rapidly rising prices that threaten the U.S. economy.

The Tuesday meeting highlighted how much the White House is relying on outside forces to help combat the highest inflation in four decades. Administration officials earlier had played down inflation worries while promoting the $1.9 trillion Covid-19 relief package in March 2021 and in seeking additional spending on healthcare, education and climate change last year.

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