Money & Banking

US Fed chief Powell gets second term

Reuters Washington | Updated on November 22, 2021

Jerome Powell   -  REUTERS

Lael Brainard will be Vice-Chair.

The Federal Reserve Chair Jerome Powell was nominated for a second four-year term by President Joe Biden on Monday, extending a tenure that began somewhat by chance, survived blistering criticism from former President Donald Trump, and now positions the ex-investment banker to finish the most consequential revamp of monetary policy since the 1970s.

Lael Brainard, the Federal Reserve board member who was the other top candidate for the job, will be Vice-Chair, the White House said. Powell, 68, will need to be confirmed by the Senate, currently controlled by Biden's Democratic party but closely divided.

Published on November 22, 2021

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