President Biden, Fed Chairman Jerome Powell Meet With Inflation at Its Highest in 40 Years

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President Biden discussed steps to address high inflation at a White House meeting with Federal Reserve Chairman Jerome Powell as his administration signals growing urgency to ease rapidly rising prices that threaten the U.S. economy.

The Tuesday meeting highlighted how much the White House is relying on outside forces to help combat the highest inflation in four decades. Administration officials earlier had played down inflation worries while promoting the $1.9 trillion Covid-19 relief package in March 2021 and in seeking additional spending on healthcare, education and climate change last year.