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Insider Sources Say Biden Will Nominate Powell For Re-election As Fed Chairman
Summary: According to MarketWatch, an unnamed source said that the Biden administration may allow Federal Reserve Chairman Jerome Powell to continue to steer the U.S. Central Bank. According to the report, the source comes from "Wall Street analysts who closely follow Washington's top executives and are quite sure of his re-nomination." Stephen Myrow, the managing partner ...
According to MarketWatch, an unnamed source said that the Biden administration may allow Federal Reserve Chairman Jerome Powell to continue to steer the U.S. Central Bank.
According to the report, the source comes from "Wall Street analysts who closely follow Washington's top executives and are quite sure of his re-nomination."
Stephen Myrow, the managing partner of Beacon Policy Advisors, said in an interview with Market Watch: "My current basic situation is Powell. This is the consensus." Jon Lieber, managing director of the Eurasia Group in the United States, said: "I think it is very likely that they will nominate Powell again."
Nominated by former President Trump in 2017, Powell's term will expire in February 2022. Since he took office on February 5, 2018, the S&P 500 has up 71% and set a series of record highs.
By Mary Liu
Tags: Biden,Fed
Link: Insider Sources Say Biden Will Nominate Powell For Re-election As Fed Chairman [Copy]
