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Tipsheet

ICYMI: The Fed Chair Explained How He Flooded the System by Printing Money

AP Photo/Manuel Balce Ceneta

President Joe Biden is meeting with Federal Reserve Chairman Jerome Powell at the White House Tuesday for the first time since taking office in January 2021. 

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The meeting comes as inflation wreaks havoc on American families with prices on essential items continuing to skyrocket. 

The meeting marks a new strategy by the White House to focus on the issue, with allies in the media deflecting blame from Democrats. 

But during an interview with 60 Minutes last year, Powell explained how the Federal Reserve "flooded the system" with printed money -- digital and physical -- to pay for Biden's big spending agenda. 

Today, Americans are paying the price for the move as inflation rages out of control.

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