Joe Biden’s trying to decide whether to reappoint Jerome Powell as Fed chairman or to appoint that Fed Governor Lael Brainard.
US President Joe Biden is still in the process of deciding whether to reappoint Jerome Powell as Fed chair or replace him with Fed governor Lael Brainard. Biden told reporters on Tuesday that he expects to announce his nomination for Fed chair “in the next four days”.
A source with knowledge of the matter told Bloomberg that the president had not accepted other potential candidates for the post, warning that the announcement could be delayed until next week. The same source noted that Biden sees these two candidates as strong options and respects them both.
Senate Banking Committee Chair Sherrod Brown said he had no doubt that the Senate would approve both candidates. Banking Commission approval is the first step in the process.