US Fed holds first policy meeting of Biden administration

Washington (AFP) – With a new year and a new administration in the White House, the US central bank nonetheless faces an unprecedented challenge in guiding the post-pandemic economic recovery. One thing Federal Reserve Chair Jerome Powell is unlikely to face from President Joe Biden is the barrage of Twitter attacks he was subject to, sometimes daily, under former president Donald Trump. White House spokeswoman Jen Psaki last week said Biden “clearly has a great deal of respect and value for the Federal Reserve and role they play.” But even absent political pressures, the outlook is daunting. …

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