President Joe Biden speaks as Federal Reserve Board Chair Jerome Powell (left) listens during an announcement that Biden is nominating Powell to a second term. “Some will no doubt question why I’m renominating Jay, when he was the choice of a Republican predecessor. Why am I not picking fresh blood, or taking the Fed in a different direction?” Biden said, explicitly stating his desire to depoliticize the central bank. “She’s done pioneering work on how the Fed should account for the emerging risk of climate change to our financial system,” Biden said. “My only question is, who is our bigger enemy, Jay Powel or Chairman Xi?” Trump wrote in 2019, misspelling Powell’s name.

Source: Huffington Post November 23, 2021 03:18 UTC