Biden Says Fed 'Laser Focused On Inflation'

The meeting between President Joe Biden and Federal Reserve Chair Jerome Powell is underway at the White House.

• The meeting is also attended by Treasury Secretary Janet Yellen and NEC Brian Deese.
• Saleha Mohsin of Bloomberg says: 'At the top of Biden's meeting w/Powell, president says he plans to tell the Fed chair he won't 'interfere with their critically important work.'
• Biden: 'My plan is to address inflation is to start with a simple proposition: Respect the Fed....I'm not going to interfere with their critically important work.'
• Susan Li says: Biden congratulated Powell on his confirmation and said: 'We need to transition from recovery to steady growth.'
  • Biden: 'Respects the independence of the Federal Reserve and his job is 'to give Fed officials space to do their job.'
  • Biden says: 'Powell noted the Fed had a laser focus on inflation.'
• Next: White House Press Secretary Karine Jean-Pierre is scheduled to hold her press conference at 14:30 ET 19:30 BST.