Biden told reporters that he has been thinking about personnel decisions, including whether to re-nominate Fed Chair Jerome Powell, and that he expected there would be “plenty of time” for his central bank nominees to be cleared by the Senate before current terms expire.
A Fed chair nomination this week would have some recent historical precedent. Former president Donald Trump nominated Powell as chair on Nov 2, 2017, about a year after he won the election and the day after the Fed’s November policy meeting.
Some Democrats have criticized Powell’s performance, especially after a trading scandal at the Federal Reserve, but investors believe https://www.reuters.com/world/us/powell-still-favorite-fed-reinstatement-investors-examine-alternatives-2021-10-15 he remains Biden’s likely pick.
Source: Economy - investing.com
