Biden to Renominate Powell as Fed Chair
Monday, November 22, 2021
United States President Joe Biden is slated to renominate Jerome “Jay” Powell as chairman of the Federal Reserve.
Powell, the 16th chair of the Federal Reserve, has served in in the role since February 2018.
He was nominated to the Board of Governors in 2012 by President Barack Obama, and subsequently nominated as chair by President Donald Trump, confirmed in each case by the United States Senate.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTIn 2019, Powell was the keynote speaker at the Greater Providence Chamber of Commerce annual meeting.
“Why it matters,” reports Axios. “The decision caps a long stretch of uncertainty about who would steer the nation's most influential economic body. The Fed is front and center as the country faces prices rising at the fastest pace in decades.
“The Powell-led Fed played an extraordinary and unprecedented role in helping resurrect the economy from the depths of the pandemic shock,” Axios continues. “Now he's set to continue to oversee the central bank as it charts a course to pull back on that support.”
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