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  • Writer's pictureD. Brit

Biden Keeps Powell in Position as FED Chair

What Happened:

  • On Monday, President Biden announced that he is nominating Jerome Powell for a second four-year term as the Federal Reserve Chair. Biden also nominated Lael Brainard, a Democrat, as Vice Chair.

  • The nomination demonstrates Biden's support for Powell, who has been guiding the economy through the pandemic recession and through surging inflation.

  • Powell, a Republican, was first appointed to his post by former President Donald Trump.

Photo Source: Federal Reserve

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