Biden and Fed Chair Jerome Powell are set to meet at the White House tomorrow as the Fed's campaign to bring down inflation gathers steam — and with it, the risk of a recession.
Biden and Powell at the November announcement of Powell's reappointment. Photo: Alex Wong/Getty Images
Biden and his advisers have often cited the Fed as having the primary responsibility for bringing down price pressures, a responsibility that Powell and his colleagueshas already raised interest rates by 3/4 of a percentage point this year and plans to raise rates by half a percentage point more at each of the next two meetings, with potentially more rate increases to come after that.
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