Biden Claims No Contact with Fed Chair Powell Since Presidency on September 19, 2024

Sep 19, 2024, 06:08 PM

On September 19, 2024, President Joe Biden stated that he has not spoken to Federal Reserve Chair Jerome Powell since taking office. Biden emphasized the importance of the Federal Reserve's independence, asserting that it would cause enormous damage to the economy if the Federal Reserve lost its independence. White House Economic Adviser Jared Bernstein later clarified that Biden meant he has not spoken to Powell about interest rates. Despite Biden's claims, there are reports and footage indicating that Biden has had meetings with Powell, including in the Oval Office.