The New York Times: Biden and Fed chair Powell are set to meet as inflation dogs the global economy

The New York Times, May 31, 2022, Biden and Fed chair Powell are set to meet as inflation dogs the global economy

President Biden will meet with Jerome H. Powell, the Federal Reserve chair, at the White House on Tuesday to discuss the state of the U.S. and global economy at a challenging moment.

Inflation in the United States is running near its fastest pace in four decades, with prices rising for gas, food and rent. While price pressures have shown early signs of abating, it is unclear how large and sustainable that decline will be given ongoing kinks in global supply chains and Russia’s war in Ukraine.