US President Joe Biden will deliver a speech on Tuesday on the economy and the fight against inflation.
US President Joe Biden will deliver a speech on the economy and the fight against inflation at a time when markets focus on who will be the next Fed chairman. In his speech, he will also explain how to lower energy prices in the country.
Biden will choose between current Chairman Jerome Powell and Governor Lael Brainard, who is considered to have more liberal views on climate change and bank regulation. The White House said Biden will announce his decision before the Thanksgiving holiday on November 25.
“The President will deliver a speech on Tuesday about the economy and lowering prices for the American people, after which he and first lady Jill Biden will depart for Nantucket, Massachusetts, to spend the Thanksgiving holiday,” the White House said in a statement on Sunday.
In an interview with Fox News Sunday, White House economic adviser Brian Deese declined to comment on the timing and content of Biden’s Fed chair announcement. “I think we’ll have more to share before we move on for Thanksgiving,” White House spokeswoman Jennifer Psaki said on Friday, saying she expects Biden to make a decision.