Biden falsely claims he has never spoken to Federal Reserve Chairman Jerome Powell as President.

On Thursday, President Biden incorrectly stated that he had never conversed with Federal Reserve Chairman Jerome Powell as president, despite having a meeting with him at the White House two years ago.

In a speech to the Economic Club of Washington, Biden stated that he respected the Federal Reserve's independence as they worked to reduce inflation, in contrast to his predecessor.

"The country has benefited greatly from its independence, and I have never spoken to the chairman of the fed since becoming president. Furthermore, losing that independence would cause significant harm to our economy."

In May 2022, Biden had his third in-person meeting with Powell in the Oval Office, as reported by Bloomberg.

At the time, Biden stated that his plan to tackle inflation involves respecting the Fed's independence, which he has already done and will continue to do.

In the meeting, the president emphasized to Chair Powell what he has consistently emphasized, which is respect for the independence of the Federal Reserve. Additionally, White House National Economic Council Director Brian Deese stated after the meeting that this was the case, according to Reuters.

In November 2021, Biden unveiled Powell as his nominees for chair and vice chair of the Federal Reserve System during a news conference.

Trump once tweeted that Powell was "clueless" while he was President, stating that the Fed was hindering their ability to achieve significant gains and rewards.