Finance

Obama to meet Fed Chair Yellen on Monday

U.S. Federal Reserve Chair Janet Yellen removes her glasses during a press conference following the two-day Federal Open Market Committee (FOMC) policy meeting in Washington March 16, 2016. REUTERS/Kevin LamarqueThomson ReutersFederal Reserve Chair Janet Yellen holds a press conference in Washington

WASHINGTON (Reuters) – President Barack Obama will meet with U.S. Federal Reserve Chair Janet Yellen on Monday to discuss the economy and Wall Street reform, the White House said on Sunday.

Vice President Joe Biden will also attend the meeting. The president and the Fed chair meet regularly to discuss economic issues.

Obama has presided over a steady economic and jobs recovery since the 2008 financial crisis and is nearing the end of his term in office.

The Fed has signaled it will exercise caution on interest rate increases because of concerns over the global economy, after implementing its first rate rise in almost a decade in December.

“In the afternoon, the president will meet with Federal Reserve Chair Janet Yellen to discuss the state of the American and global economy, Wall Street reform, and the long-term economic outlook; the vice president will also attend,” the statement said.

(Reporting by David Chance; Editing by Peter Cooney)

Read the original article on Reuters. Copyright 2016. Follow Reuters on Twitter.

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