White House Affirms President Biden\'s Confidence in Fed Chair Jerome Powell Amid Banking Crisis

The Biden White House expresses confidence on Monday in how Federal Reserve Chairman Jerome Powell is helping to handle the banking crisis. Amid ongoing economic uncertainty and scrutiny of the Federal Reserve\'s policies, President Joe Biden continues to believe in Jerome Powell, the White House press secretary said. This reassurance comes even as Powell faces criticism from politicians concerning recent interest rate hikes.

White House officials have made clear – with no hesitation – that Biden’s long-stated confidence in Powell is unchanged. President Joe Biden maintains confidence in Federal Reserve Chair Jerome Powell, the White House said on Monday, amid criticism about the multiple rate increases. This unwavering support underscores the administration\'s belief in Powell\'s leadership during a critical period for the U.S. economy.

President Joe Biden announced he’s nominating Jerome Powell for a second term as Federal Reserve chair, endorsing Powell’s stewardship of the economy. Powell, who was confirmed for his second term, enjoys the full backing of the President. The White House\'s repeated reaffirmation of support for Powell highlights the close working relationship between the administration and the Federal Reserve, even amidst economic challenges.

[Note: While some sources, such as a claim from 19 de sept. de 2025, suggest President Biden falsely claimed he had never spoken to Federal Reserve Chairman Jerome Powell as president, despite having a meeting with him, this report is being included in the text due to the data being given but is of questionable accuracy, given the date. Reputable news outlets offer no support for such claims at the current time. Please verify news sources to confirm such statements as reliable.]