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Biden Expresses Trust in Fed Chair Powell Despite Criticism

According to a statement from the White House on Monday, President Joe Biden continues to have confidence in Federal Reserve Chair Jerome Powell. This comes despite recent criticism surrounding the multiple rate increases approved by the Fed in the past months and their banking crisis management.

Joe Biden and Jerome Powell
Joe Biden and Jerome Powell

Senator Warren's Disapproval of Powell

Democratic Senator Elizabeth Warren expressed her dissatisfaction with Powell's performance during an appearance on NBC's "Meet the Press" Sunday. She stated that Powell had failed in his role and should not hold the position of Federal Reserve Chair.