It was the first one-on-one meeting between
Obama and Yellen since she took the helm of the central bank,
which sets the nation's monetary policy but operates
independently from the White House.
The Federal Reserve and other financial regulators are still
finalizing rules from the 2010 Dodd-Frank Wall Street reform
act, which aimed to strengthen the financial system after the
2007-2009 credit crisis shattered confidence throughout global
markets.
Obama and Yellen talked about the near- and long-term outlook
for the economy in the United States and around the world, the
White House said. They also discussed the Consumer Protection
Act.
Obama leaves this weekend for Asia on a trip that will include a
meeting of the G20 group of economies.
"So the president having this conversation with the chair of the
Fed makes sense in advance of that meeting," White House
spokesman Earnest told reporters before the meeting.
Earnest said he did not know whether Obama would discuss two
vacancies on the Fed's seven-member Board of Governors with
Yellen. Earnest also said he had no update on when Obama would
move to fill the positions.
(Reporting by Steve Holland and Roberta Rampton; Editing by
Doina Chiacu and Dan Grebler)
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