Biden says he has not spoken with Fed Chair Powell
WASHINGTON (Reuters) -U.S. President Joe Biden said on Tuesday he has not spoken to Federal Reserve Chair Jerome Powell, noting the central bank is an independent agency. I think the Federal Reserve is an independent operation and starting off my presidency I want to be real clear that I m not going to do the kinds of things that have been done in the last administration, Biden told reporters. Biden still has significant room to make his mar…
6 hours ago|Los Angeles, United States
Biden says he has not spoken with Fed Chair Powell
By David Sherfinski - The Washington Times - Tuesday, April 6, 2021
President Biden said Tuesday he has not spoken to Federal Reserve Chairman Jerome Powell since taking office, saying he wants the Fed to maintain its independence.
“I have not,” Mr. Biden told reporters after an unrelated event. “Look, I think the Federal Reserve is an independent operation. And starting off my presidency, I want to be real clear that I’m not going to do the kinds of things that [had] been done in the last administration.”
“Either talking to the attorney general about who he’s going to prosecute or not prosecute and under what circumstances, or the Fed telling them what they should and shouldn’t do - even though that wouldn’t be the basis upon which I’d be talking to them,” he continued. “So I’ve been very fastidious about not talking to [them].”
Rotational spin
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US markets paused for breath overnight, with Wall Street easing slightly after a frenzied Monday session. Rotational spin was the theme of the day, and yesterday’s lucky recipient was the European Union, with markets delivering the author a slap in the face after yesterday’s note. Having driven US markets to near-record highs, investors seized upon news that the EU expects to have vaccinated 70% of its population by the end of July to pile into a Euro-recovery play. That drove French and German markets to record closes with the euro rallying hard versus the greenback.
Major economies support $650 billion boost in IMF resources
By MARTIN CRUTSINGERApril 7, 2021 GMT
FILE - The logo of the International Monetary Fund is visible on their building, Monday, April 5, 2021, in Washington. Finance officials of the world’s major economies on Wednesday, April 7, 2021 agreed on a proposal to boost the resources of the International Monetary Fund by $650 billion as a way to provide more support to vulnerable countries struggling to deal with a global pandemic. (AP Photo/Andrew Harnik)
FILE - The logo of the International Monetary Fund is visible on their building, Monday, April 5, 2021, in Washington. Finance officials of the world’s major economies on Wednesday, April 7, 2021 agreed on a proposal to boost the resources of the International Monetary Fund by $650 billion as a way to provide more support to vulnerable countries struggling to deal with a global pandemic. (AP Photo/Andrew Harnik)
Major economies support $650 billion boost in IMF resources mynorthwest.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mynorthwest.com Daily Mail and Mail on Sunday newspapers.