Biden Re-Nominates Jay Powell for Four More Years of Chairing the Fed

President Joe Biden has renominated Republican Jay Powell for another four years as Chair of the Federal Reserve. There had been widespread speculation in Washington that Fed Governor Lael Brainard could take over the helm. Instead, she has been nominated to serve as Vice Chair. Biden added in a statement from the White House, "I’m confident that Chair Powell and Dr. Brainard’s focus on keeping inflation low, prices stable, and delivering full employment will make our economy stronger than ever before."