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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