Jump to content

Biden selects Powell for second term as Fed chair


Recommended Posts

106362315-1580327079040pow.jpg?v=1623762
WWW.CNBC.COM

President Joe Biden made the announcement Monday morning following weeks of speculation that Fed Governor Lael Brainard could get the spot.

 

Quote

 

Jerome Powell, who guided the Federal Reserve and the nation’s economy through the staggering and sudden Covid-19 recession by implementing unprecedented monetary stimulus, has been nominated for a second term as chairman of the U.S. central bank.

 

President Joe Biden made the announcement Monday morning following weeks of speculation that a push from progressives might see Fed Governor Lael Brainard get the spot.

 

Brainard instead will be vice chair of the board of governors; she had been widely expected to get a separate vice chair for supervision post, which oversees the nation’s banking system. As vice chair, she would succeed Richard Clarida, whose term expires Jan. 31, 2022.

 

 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...