Biden to meet Fed chair as inflation bites pocketbooks

5/31/2022 11:14:00 AM

Biden to meet Fed chair as inflation bites pocketbooks

Biden to meet Fed chair as inflation bites pocketbooks

President Joe Biden is set to meet with Federal Reserve Chairman Jerome Powell as soaring inflation takes a bite out of Americans’ pocketbooks

BidenPresident Joe Biden participates in a magnolia tree planting ceremony on the South Lawn of the White House in Washington, Monday, May 30, 2022. (AP Photo/Andrew Harnik)(Andrew Harnik)May 31, 2022 at 12:06 am EDTWASHINGTON — (AP) — President Joe Biden is set to meet with Federal Reserve Chairman Jerome Powell as soaring inflation takes a bite out of Americans' pocketbooks.

The meeting Tuesday will be the first since Biden renominated Powell to lead the central bank and comes weeks after his confirmation for a second term by the Senate.The White House said the pair would discuss the state of the U.S. and global economy and especially inflation, described as Biden's “top economic priority." The goal, the White House said, is a “transition from an historic economic recovery to stable, steady growth that works for working families.”

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Biden to meet Fed chair as inflation bites pocketbooksPresident Joe Biden will meet Tuesday with Federal Reserve chairman Jerome Powell as soaring inflation takes a bite out of Americans’ pocketbooks.

Biden to meet Fed chair as inflation bites pocketbooksWASHINGTON (AP) — President Joe Biden will meet Tuesday with Federal Reserve chairman Jerome Powell as soaring inflation takes a bite out of Americans' pocketbooks. The meeting will be the first since Biden renominated Powell to lead the central bank and comes weeks after his confirmation for a second term by the Senate. So soon? NoClueAtAll It only took him 18 months to do that.

Expand Biden President Joe Biden participates in a magnolia tree planting ceremony on the South Lawn of the White House in Washington, Monday, May 30, 2022.They placed flowers at the memorial in front of Robb Elementary school.killed in a mass shooting at Robb Elementary School on Tuesday.increased 339 percent in 2021.

(AP Photo/Andrew Harnik) (Andrew Harnik) May 31, 2022 at 12:06 am EDT WASHINGTON — (AP) — President Joe Biden is set to meet with Federal Reserve Chairman Jerome Powell as soaring inflation takes a bite out of Americans' pocketbooks. The meeting Tuesday will be the first since Biden renominated Powell to lead the central bank and comes weeks after his confirmation for a second term by the Senate. were at the site. The White House said the pair would discuss the state of the U. After the presidential convoy made its journey to Uvalde, Abbott was greeted with a chorus of boos.S. They attended mass before meeting with the families of victims and survivors, as well as first responders. and global economy and especially inflation, described as Biden's “top economic priority." What Are BTS? BTS are a South Korean boy band, also known as the Bangtan Boys.

" The goal, the White House said, is a “transition from an historic economic recovery to stable, steady growth that works for working families. - The President and First Lady are in Uvalde to pay their respects following a school shooting. President Biden also acknowledged members of the community who called out to him from behind the crowd barriers, ​​all urging him to take action on the uniquely lax gun laws that continue to mark the U.” Inflation in the U.S. What needs to happen is change," Hope Sanchez, who was at the Town Square memorial, said. hit a 40-year high earlier this year, amid supply chain constraints caused by the global economy's recovery from the pandemic and Russia's invasion of Ukraine. Biden embraces Mandy Gutierrez, the principal of Robb Elementary School. But the economy saw a welcome bit of data Friday, as the Commerce Department said inflation rose 6. Some kind of change," Carlos Trevino, who was also at the Town Square memorial, said. President Biden sings “Butter” by.

3% in April from a year earlier, the first slowdown since November 2020 and a sign that high prices may finally be moderating, at least for now. The inflation figure was below the four-decade high of 6. Over at Town Square, the memorial is also growing.” Biden’s visit comes in the wake of heavy scrutiny around the delayed response of the Uvalde Police Department during Tuesday’s shooting, with many noting that their tactic of waiting for a SWAT team to arrive directly contravened official guidance on how to deescalate an active shooter scenario.6% set in March. While high inflation is still causing hardships for millions of households, any slowing of price increases, if sustained, would provide some modest relief. US President Joe Biden and First Lady Jill Biden pay their respects at a makeshift memorial outside of Robb Elementary School in Uvalde, Texas on May 29, 2022. Powell has pledged to keep ratcheting up the Fed’s key short-term interest rate to cool the economy until inflation is “coming down in a clear and convincing way.R.

” Those rate hikes have spurred fears that the Fed, in its drive to slow borrowing and spending, may push the economy into a recession. These people are grieving right now so that is why we are here to stand with them, to speak for them, to make sure that these lives are not forgotten, to make sure there are changes in all of our communities," Sanchez said. That concern has caused sharp drops in stock prices in the past two months, though markets rallied last week. Powell has signaled that the Fed will likely raise its benchmark rate by a half-point in both June and July — twice the size of the usual rate increase. Advertisement "It's shocking. Still, despite the pressures of the gun lobby, a bipartisan group of senators is expected to meet this week to discuss potential measures that could impose new restrictions on access to weapons in a number of states. Copyright 2022 The Associated Press. All rights reserved. Kind of uncertain how to feel about it.

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