Biden Avoids Direct Talks on Interest Rates with Fed Chair Powell

White House economic adviser Jared Bernstein confirmed that President Joe Biden has not communicated with Federal Reserve Chair Jerome Powell about interest rates since assuming office. Biden reiterated this during a Thursday statement to dispel any misconceptions pertaining to their interactions.

White House economic adviser Jared Bernstein confirmed that President Joe Biden has not communicated with Federal Reserve Chair Jerome Powell about interest rates since assuming office. This revelation came as Biden reiterated during a Thursday statement, clarifying their lack of direct interaction regarding monetary policy.

Biden emphasized that he has maintained a hands-off approach towards the Federal Reserve's decisions, respecting the institution's independence in handling economic matters.

These comments aim to dispel any misconceptions that might arise about the President's involvement in the Fed's interest rate decisions, stressing the administration's respect for the central bank's autonomy.

(With inputs from agencies.)