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President Biden in the Oval Office of the White House on Wednesday. Photo: Stefani Reynolds/The New York Times/Bloomberg via Getty Images

President Biden will join fellow G7 leaders for a virtual meeting Friday to discuss the pandemic response, economic recovery, China and the climate crisis, the White House said.

Why it matters: This will be Biden's first meeting with Group of Seven leaders as president. It's the first gathering of G7 leaders from the U.S., Canada, France, Germany, Italy, Japan, the United Kingdom since last April.

Details: The focus of the meeting, hosted by the U.K., will be on a global response to the pandemic. This will include "coordination on vaccine production, distribution, and supplies," the White House said in an emailed statement Sunday.

  • British Prime Minister Boris Johnson said in a statement he would "call for leaders to work together on a joined-up global approach to pandemics that brings an end to the nationalist and divisive politics that marred the initial response to coronavirus."

What to watch: Per the White House statement, leaders will also discuss the "need to make investments to strengthen our collective competitiveness and the importance of updating global rules to tackle economic challenges such as those posed by China."

Go deeper

Fed signals it could yank economic support quicker as inflation sticks around

Federal Reserve chairman Jerome Powell testifies during a hearing before Senate Banking, Housing and Urban Affairs Committee today. Photo: Alex Wong/Getty Images

The Federal Reserve will consider pulling back economic support sooner "as the threat of persistently high inflation has grown," chair Jerome Powell said during a congressional hearing on Tuesday.

Why it matters: This is the biggest signal yet the Fed is backing away from its stance that soaring prices would be fleeting — a change that could shift its policies that underpin the economy.

Felix Salmon, author of Capital
Updated 2 hours ago - Economy & Business

Crypto meets the real world

Illustration: Megan Robinson/Axios

The two largest countries in the world seem intent on effectively banning their citizens from participating in crypto, which poses a serious threat to the crypto agenda.

Why it matters: The crypto world is global — but the real world is fragmented into nation-states, each of which claims control of what happens within its borders.

Meadows cooperating with House Jan. 6 select committee

Mark Meadows. Photo: Yuri Gripas/Bloomberg via Getty Images

Former White House Chief of Staff Mark Meadows is cooperating with the House select committee in charge of investigating the Jan. 6 Capitol insurrection, the panel said Tuesday.

Driving the news: Meadows, who failed to appear before the panel earlier this month, is believed to have insight into former President Trump's role in efforts to stop the certification of President Biden's election win.