{"id":3053,"date":"2021-11-25T11:21:31","date_gmt":"2021-11-25T16:21:31","guid":{"rendered":"https:\/\/www.virlan.co\/trends\/?p=3053"},"modified":"2023-03-06T07:25:57","modified_gmt":"2023-03-06T12:25:57","slug":"jerome-powell-federal-reserve-on-twitter-and-news-biden-keeps-powell","status":"publish","type":"post","link":"https:\/\/www.virlan.co\/trends\/breaking-news\/jerome-powell-federal-reserve-on-twitter-and-news-biden-keeps-powell\/","title":{"rendered":"Jerome Powell Federal Reserve on Twitter and News : Biden Keeps Powell as Fed Chair. He Will Face an Utterly Different Economy in a Second Term"},"content":{"rendered":"\n

Federal Reserve Chairman Jerome Powell<\/h2>\n\n\n

Biden Keeps Powell as Fed Chair, Elevates Brainard to Vice Chair<\/h2>\n

President Biden<\/strong> will keep Jerome Powell<\/strong> as Fed chair<\/strong>, resisting political pressure for a shake-up.<\/h6>\n
Lael Brainard is tapped for vice chair of the Federal Reserve.<\/strong><\/h6>\n
Who is Lael Brainard, President Biden\u2019s pick for the Fed\u2019s vice chair?<\/h6>\n

President Biden<\/strong> will renominate Jerome H. Powell<\/strong>, the Federal Reserve chair<\/strong>, to another four-year term \u2014 ensuring policy continuity at a moment of rapid inflation and vast economic uncertainty but potentially angering progressive Democrats who had been agitating for a change in leadership.<\/p>\n

The much-awaited decision was a return to tradition in which the central bank\u2019s top official is reappointed regardless of partisan identity \u2014 a norm bucked by former President Donald J. Trump, who appointed Mr. Powell instead of renominating Janet L. Yellen.<\/p>\n

President Biden said he would nominate Lael Brainard as the Federal Reserve\u2019s vice chair, the No. 2 role at the Fed and one that could give her a stronger mandate to influence everything from the cost of money to the future of digital cash.<\/p>\n

Ms. Brainard, who has been a Fed governor since 2014, is already part of the close inner circle of policy advisers of Jerome. H. Powell, the Fed chair. But her elevation to vice chair will make her Mr. Powell\u2019s closest collaborator on monetary policy matters if she is confirmed by the Senate.<\/p>\n

The vice chair holds little power officially, but in practice is regularly the person who floats new ideas in speeches and who helps to guide a Fed chair\u2019s thinking on policy matters.<\/p>\n

Lael Brainard, a Federal Reserve governor since 2014, was in the mix to potentially replace Jerome H. Powell as Fed chair, but President Biden\u2019s decision to elevate her to the Fed\u2019s No. 2 role will still place her in a powerful position at the central bank.<\/p>\n

If confirmed as vice chair, Ms. Brainard would be the third woman in the Fed\u2019s 108-year history to serve in the role after Janet L. Yellen and Alice Rivlin. Her term would begin in February 2022, after the departure of Richard Clarida, the current vice chair.<\/p>\n

<\/p>\n

Biden To Re-Nominate Jerome Powell To Serve As Federal Reserve Chairman<\/h3>\n

President Biden has announced that he intends to re-nominate Jerome Powell to serve another term as Federal Reserve chairman. NBC’s Shannon Pettypiece reports from the White House.<\/p>\n\n\n