President Biden To Meet With Fed Chair As Inflation Bites Pocketbooks

Jerome Powell and President Biden are set to meet to discuss the economy, marking their first meeting since last November. With inflation being a major concern, the Fed plans more interest rate hikes. Powell has been confirmed for another term as chair. Ahead of the meeting, Biden wrote an Op-Ed in the Wall Street Journal outlining his plans to tackle inflation. He urges Congress to pass clean energy tax credits, fix supply chains, improve infrastructure, and reduce the federal deficit.

What is the significance of Jerome Powell's recent confirmation?

How does President Biden plan to address the federal deficit?