Biden to meet Fed chair as inflation bites pocketbooks

WASHINGTON (AP) — President Joe Biden is set to meet with Federal Reserve Chairman Jerome Powell as soaring inflation takes a bite out of Americans’ pocketbooks. Tuesday’s (May 31, 2022) meeting will be the first since Biden renominated Powell to lead the central bank and comes weeks after his confirmation for a second term by the Senate. The White House says the pair will discuss the state of the U.S. and global economy and especially inflation, described as Biden’s “top economic priority.” The White House says the goal is a “transition from an historic economic recovery to stable, steady growth that works for working families.”