Biden to nominate Jerome Powell as Federal Reserve chairman
CNN
President Joe Biden on Monday formally announced his intent to nominate Jerome Powell to serve as the chairman of the Federal Reserve for a second term and nominate Lael Brainard to serve as the Fed's vice chair.
Powell's four-year term is up in February, and the President faced a key decision of whether to keep Powell, who was put in the job by a Republican, in the government's most important economic policy job.
At a time when rising consumer prices, inflation and shortages caused by the supply chain crisis are urgent concerns of the White House, there has been heightened focus on who the President was going to pick to lead the nation's central banking system.
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