Financial Insights

Biden selected Jerome Powell who will lead the Fed for the second term as the U.S. battles COVID and inflation.

Jerome Powell, who guided the Federal Reserve and the nation’s economy through the staggering and sudden Covid-19 recession by implementing unprecedented monetary stimulus, is being nominated for a second term as chairman of the U.S. central bank.

President Joe Biden announced on Monday morning following the weeks of speculation that a push from progressives might see Fed Governor Lael Brainard get the spot.

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