Joe Biden has discussed inflation with the Federal Reserve and is confident that Chair Jerome Powell, as well as the president's upcoming nominations to the U.S. central bank, are focused on rising prices.
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Biden, speaking to reporters Friday in Nantucket, said that inflation would be a priority for the governors and that he will soon nominate to fill vacancies on the Fed's board.
I talked to the Fed about a wide range of things from monetary policy to inflation, and I have confidence that the appointees I have made, and I'm going to have three more, are going to reflect that concern, Biden said.
He didn't say anything about his conversations and didn't specify when or with whom his conversations took place. He didn't respond to a question of when he will announce the remaining Fed nominees.
Biden announced this week that he would re-elect Powell as chair and select Governor Lael Brainard to be vice chair, opting for continuity at the central bank at a time when the country is grappling with the fastest rising prices in 30 years.
Biden spoke Friday after a stock market selloff fueled by fears over a new Covid 19 variant. He said that they always do when Covid rises. Asked if it worries him, he replied: Not at all. None of the Wildfires Are Getting Worse, and One Chemical Company is Reaping the Benefits.
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