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Biden to Meet Powell to Discuss Economy as Inflation Bites

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WATCH: President Biden will hold a rare meeting on Tuesday with Fed Chair Powell amid the highest inflation in decades. Enda Curran reports.Source: Bloomberg

President Joe Biden will hold a rare Oval Office meeting on Tuesday with Federal Reserve Chair Jerome Powell amid the highest inflation in decades, which has angered Americans and hurt his standing with voters.

The two will discuss the state of the American and global economy, according to a White House statement. It’s the first meeting between the two since Biden in November announced his intention to nominate Powell for a second term at the helm of the US central bank, according to a record of the Fed chief’s public schedule which is available through March.