Biden Will Tap Jerome Powell To Remain as Fed Chair

Biden Will Tap Jerome Powell , To Remain as Fed Chair.
Biden Will Tap Jerome Powell , To Remain as Fed Chair.
President Joe Biden announced
on Nov. 22 that he will nominate
Jerome Powell to remain in his position
chairman of the U.S. Federal Reserve.
At this moment, of both enormous potential and enormous uncertainty for our economy we need stability and independence at the
Federal Reserve, President Joe Biden, via 'The New York Times'.
When our country was hemorrhaging jobs last year, and there was panic in our
financial markets, , President Joe Biden, via 'The New York Times'.
Jay’s steady and decisive leadership helped to stabilize markets and put our economy on track to a robust recovery, President Joe Biden, via 'The New York Times'.
In addition to Powell's nomination.
Biden will also nominate Lael Brainard
to serve as Fed vice chair.
I’m confident that Chair Powell and Dr. Brainard’s focus on keeping inflation low, prices stable and delivering
full employment ... , President Joe Biden, via 'The New York Times'.
will make our economy stronger than ever before, President Joe Biden, via 'The New York Times'.
A number of U.S. Senators from Biden's party have voiced significant concerns regarding Powell's reappointment.
Senator and former Democratic presidential candidate Elizabeth Warren has referred to Powell as "a dangerous man.".
Sen. Sheldon Whitehouse,
(D-R.I.), stated that he
was "disappointed"
in Biden's decision.
He and Sen. Jeff Merkley, (D-OR) penned a statement urging Powell to "reassess" his prior inaction related to climate change.
He and Sen. Jeff Merkley, (D-OR) penned a statement urging Powell to "reassess" his prior inaction related to climate change.
I sincerely hope that, if confirmed, Powell will reassess his past opposition to utilizing the Fed’s regulatory tools to minimize climate-related risks to the financial sector, Sen. Sheldon Whitehouse, (D-R.I.),
via 'The New York Times'