The two will discuss the state of the American and global economy, according to a White House statement. It’s the first meeting between the two since Biden in November announced his intention to nominate Powell for a second term at the helm of the US central bank, according to a record of the Fed chief’s public schedule which is available through March.the Fed’s preferred gauge of price pressures, the personal consumption expenditures price index, rose by 6.
Fed officials raised interest rates by a half-percentage point earlier this month and Powell has signaled they plan to follow up with increases of the same size in June and July to cool price pressures, even as they start shrinking their massive balance sheet Concern over how aggressively the Fed will move has triggered severe financial-market volatility as investors fret it might cause a recession. But sentiment was brightened last week by some better corporate news and a suggestion by Atlanta Fed President Raphael Bostic that a pause on rate increases in September might make “