Biden has confidence in Fed Chair Powell -White House

WASHINGTON (Reuters) – President Joe Biden maintains confidence in Federal Reserve Chair Jerome Powell, the White House said on Monday, amid criticism about the multiple rate increases the Fed has approved in recent months and its handling of the banking crisis.

Democratic Senator Elizabeth Warren told NBC’s “Meet the Press” on Sunday that Powell has failed and should not be in his job.

(Reporting by Jeff Mason and Steve Holland; Editing by Leslie Adler)