Fed: Jerome Powell President for a second term
President Joe Biden has appointed Jerome Powell for a second term as head of the central bank.
The White House today announced the appointment of Jerome Powell as chairman of the US Federal Reserve for a second four-year term, a choice that marks US President Joe Biden. desire to continue, but also the agreement between Republicans and Democrats.
According to the Athenian and Macedonian News Agency, Lael Brainard, a member of the Fed's board who was the other high-ranking candidate for the post, will be vice president, the White House said.
"While much remains to be done, we have made remarkable progress over the past ten months with Americans returning to work and our economy moving again," Biden told reporters in an email to reporters. "This success is a testament to the financial agenda I have pursued and the decisive action taken by the Federal Reserve," he said.
68-year-old Republican Jerome Powell has been leading the strong Fed since 2018, after being elected by then-President Donald Trump. His actions during the Covid-19 crisis were hailed by both the right and the left, but some progressives had called for his replacement. His appointment will now have to be confirmed by the Senate.
