Biden renominates Powell for second term as Fed Chair
U.S. President Joe Biden nominated Jerome Powell for a second term as chairman of the U.S. central bank and put forth Fed Governor Lael Brainard as vice chairman of the board of governors of the Federal Reserve System
By Yashasvini Razdan
Published - Nov 22, 2021, 08:52 PM ET
Last Updated - Jul 04, 2024, 06:57 AM EDT
• Biden put forth Fed Governor Lael Brainard as vice chairman of the board of governors of the Federal Reserve System
• Net income jumped to $1.49 billion, or $3.04 per share, from $1.01 billion, or $2.01 per share
U.S. President Joe Biden nominated Jerome Powell for a second term as chairman of the U.S. central bank and put forth Fed Governor Lael Brainard as vice chairman of the board of governors of the Federal Reserve System.
The renomination of Fed Chair Jerome Powell for a second term signifies the government’s approval of Powell’s role in making decisions to support the nation’s economy through the COVID-19 recession by implementing monetary stimulus.
