Fed Chair Powell Reveals No Contact With Biden in 2 Years Amid Economic Challenges

Amid swirling speculation in Washington D.C. about whether President Joe Biden will seek reelection in 2024 and questions about who really governs the nation, Fed Chair Jerome Powell disclosed that he hasn’t spoken with the U.S. President for over two years. “When any President calls you, you come and you meet, but that hasn’t happened so…,” Powell remarked. During an inquiry by Rep. Mike Lawler, R-N.Y., it emerged that despite persistent inflation and economic challenges, the President has not engaged at all with the Chair to deliberate these issues. Lawler expressed to Fox Business News his astonishment that there has been no meeting between the President and the central bank chief. Powell’s comments come amid legislative efforts by two Republicans to dissolve the Fed and initiatives like the Project 2025 paper, which seeks to diminish the central bank’s independence. Meanwhile, the Biden administration appears indifferent to the Fed’s autonomy.