Experts React to Fed Chair Powell’s Renomination: ‘Sound, Tested, Respected, and Familiar’

Joe Biden announced Monday he will be renominating Federal Reserve Chairman Jerome Powell for a second term as Fed chair and will nominate Fed Governor Lael Brainard as vice chairman. Biden was widely expected to nominate either Powell or Brainard for the position of Fed chair. Powell was initially nominated by President Donald Trump in 2017, but Trump was highly critical of Powell during his first term in the position. Powell served during the COVID-19 market crash in March 2020 and orchestrated the emergency interest rate cuts and implementation of $120 billion in monthly asset purchases to support the economy…