Economics
Obama Is ‘Pleased’ With Yellen as Economy Shows Signs of Slowing
- President and Fed chair meet to discuss the U.S. economy
- Some economists predict near-zero GDP growth in first quarter
President Barack Obama applauds after announcing his nomination of economist Janet Yellen to be Federal Reserve chairman in Washington on Oct. 9, 2013.
Photographer: JEWEL SAMAD/AFP/Getty ImagesThis article is for subscribers only.
President Barack Obama met with Federal Reserve Chair Janet Yellen on Monday to discuss the U.S. economy amid signs that growth may be slowing as consumers retreat from spending.
Ahead of the afternoon meeting, White House Press Secretary Josh Earnest described Obama as "pleased" with Yellen, who he appointed to lead the Fed in 2014. It is the first time since November 2014 that the Fed chair has met with the president on her own. The meeting was closed to the news media.