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Thndr Claps » U.S. Claps » Economy 🏢 » Fed has full independence in dealing with inflation🏛️

Fed has full independence in dealing with inflation🏛️

by Shams Abbas
June 1, 2022

The Clap
In President Joe Biden’s meeting with Fed Chair Jerome Powell, The President ensured Powell that the Fed shall continue doing its job without political pressure.

The deets
Biden said that his “plan to address inflation starts with a simple proposition: Respect the Fed, respect the Fed’s independence”.
Both Biden & Powell want the same thing: tame inflation without sending the economy into a recession. 

Why this matters
For Biden, voters are losing patience with the democratic party, & it’s coming at a time when midterm elections are on the horizon.

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