President Joe Biden, during a speech to the Economic Club of Washington on Thursday, made a false claim regarding his communication with Federal Reserve Chairman Jerome Powell. He stated, “Unlike my predecessor, I respect the Federal Reserve’s independence as they pursued a mandate to bring inflation down.” Biden further asserted, “And by the way, I’ve never once spoken to the chairman of the Fed since I became president.”
However, this statement contradicts known facts. In May 2022, Biden met with Powell in the Oval Office, marking his third in-person session with the Fed Chair since assuming the presidency. This meeting was documented by Bloomberg and Reuters, and Biden himself acknowledged the importance of respecting the Fed’s independence during that time.
Prior to this, in November 2021, Biden introduced Powell during a press conference to announce his nominees for chair and vice chair of the Federal Reserve Board. He later formally announced Powell’s nomination for a second four-year term.
These events clearly demonstrate that Biden has engaged with Powell multiple times as president. His claim that he has never spoken to the Fed Chair seems to be a mischaracterization of his interactions with Powell.
