President Barack Obama will wait until the sequester hits to have his first sequester-related face-to-face meeting with congressional leaders on Friday, according to a report by ABC News’s Jonathan Karl:

“A congressional source with direct knowledge of the plans tells me the top four congressional leaders – John Boehner, Harry Reid, Nancy Pelosi and Mitch McConnell – will meet with President Obama at the White House Friday to attempt to negotiate a way to avoid the spending cuts that both sides have said should be avoided,” Karl reported Wednesday.

Karl reported that the White House arranged the meeting late Tuesday.

“The meeting Friday is an opportunity for us to visit with the President about how we can all keep our commitment to reduce Washington spending,” McConnell said.