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Biden Nominates Powell for Second Term as Fed Chair, Brainard for Vice Chair

Biden Nominates Powell for Second Term as Fed Chair, Brainard for Vice Chair

Posted: Nov 23 2021
President Biden yesterday announced that he will re-nominate Federal Reserve Chairman Jerome Powell to serve a second term as head of the central bank. Powell—who has served on the Fed board since 2012—was nominated to serve as chair during the last administration and was confirmed by a bipartisan Senate vote in 2018.
 
President Biden also announced that he has selected Fed Governor Lael Brainard to serve as vice chair. Brainard has served on the Fed board since 2014. “

Three seats on the Fed board still remain vacant, including the vice chair for supervision. President Biden signaled he will make those appointments “beginning in early December.”

To read more, visit: https://www.whitehouse.gov/briefing-room/statements-releases/2021/11/22/president-biden-nominates-jerome-powell-to-serve-as-chair-of-the-federal-reserve-dr-lael-brainard-to-serve-as-vice-chair/

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