Biden to keep Powell as Fed chair, Brainard gets vice chair
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November 21, 2021
WASHINGTON (AP) — President Joe Biden said Monday he is nominating Jerome Powell for a second four-year term as Federal Reserve chair, endorsing his stewardship of the economy through a brutal pandemic recession in which the Fed's ultra-low rate policies helped bolster confidence and revitalize the job market.
Biden also said he would nominate as vice chair Lael Brainard, the lone Democrat on the Fed's Board of Governors and the preferred alternative to Powell among many progressives.
His decision strikes a note of continuity and bipartisanship at a time when surging inflation is burdening hou...
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