Biden, Touting Fed Independence, Yet to Speak With Powell
- Trump repeatedly put pressure on Powell over Fed policy
- Powell’s term as Fed board chair comes due in early 2022
This article is for subscribers only.
President Joe Biden said he hasn’t spoken with Federal Reserve Chair Jerome Powell since taking office more than two months ago, citing respect for the central bank’s independence and marking a sharp turn from his predecessor, Donald Trump.
“The Federal Reserve is an independent operation and, starting off my presidency, I want to be real clear that I’m not going to do the kinds of things that have been done in the last administration,” Biden said on Tuesday in response to a question. “I’ve been very fastidious about not talking to them, but I do talk to the secretary of the Treasury,” Janet Yellen, he said.