U.S. President Joe Biden speaks during a news conference in the East Room of the White House in Washington, D.C., on Wednesday, Jan. 19, 2022.
Oliver Contreras | Bloomberg | Getty Images
President Joe Biden on Wednesday said he supports Federal Reserve Chairman Jerome Powell’s expected move to start tightening monetary policy and wind down the easy-money measures the central bank used to insulate the economy from the Covid-19 pandemic.
Biden said he respects the Fed’s independence, but underscored that the central bank is tasked with taming inflation.
“Covid-19 has created a lot of economic complications, including rapid price increases across the world economy. People see it at the gas pump, the groceries stores, and elsewhere,” Biden said in his first news conference of the year.
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“The Federal Reserve provided extraordinary support during the crisis for the previous year and a half,”…