Jerome Powell reappointed for second term as chair of US Federal Reserve
theguardian.comJerome Powell’s handling of the economic fallout from the Covid-19 pandemic has won the chair of the Federal Reserve the backing of the White House for a second term running the world’s most important central bank.
Despite speculation he might sack Donald Trump’s appointee, Joe Biden cited the “decisive action” taken by Powell during the early stages of the crisis as a reason to reappoint the 68-year-old Republican for another four years.
The White House said Lael Brainard – the only Democrat on the Fed board, whom some had tipped as a possible replacement for Powell – was its choice to become the vice-chair.
The nominations hark back to a tradition of a non-partisan approach to the top job at the Fed that was broken by Trump. Some progressive
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