President Joe Biden said the White House will make an announcement on appointments to lead the United States Federal Reserve (Fed) “soon”.
He noted that he has been thinking about personnel decisions, including the possibility of reappointing the current president of the Fed, Jerome Powell, and that he hoped there would be “long time“For their central bank candidates to be approved by the Senate before the current terms expire.
A nomination for the Fed chair this week would have a recent historic precedent.
Former President Donald Trump nominated Powell as head of the central bank on November 2, 2017, about a year after he won the election and the day after the body’s November monetary policy meeting.
Some Democrats have criticized the performance of Powell, especially after a financial operations scandal in the FedBut investors believe it remains Biden’s likely pick.
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