President Biden of the United States met with Fed Chairman Powell, the central bank, and emphasized his support for the Fed's efforts to raise rates to curb record inflation.
In May, the Fed decided to raise rates by 0.5% for the first time in 22 years to curb record inflation, and Chair Powell said he would continue to raise rates significantly at the June and July meetings.
President Biden supported the Fed's policy by meeting with Treasury Secretary Janet Yellen at the White House on the 31st, saying that "anti-inflation is a top priority to link the historic recovery of the economy to stable growth." Then I emphasized.
President Biden wrote in the leading newspaper, Wall Street Journal, the day before, as three measures against inflation: respecting the Fed's independence, supporting policies, curbing prices for daily necessities such as gasoline, and the government's. We are working to reduce the deficit.
President Biden, who is preparing for the midterm elections in November, is likely to reiterate his efforts to combat inflation and hope to recover the sluggish approval rating.