Monday, 22 November, 2021

Refinitiv: Biden taps Powell for second terms as Fed chair; Brainard to be vice chair – RTRS | News Wires

 

REFINITIV

 

Alerts History

  • 22-Nov-2021 14:00:00 – BIDEN INTENDS TO NOMINATE JEROME POWELL AS FED CHAIR, LAEL BRAINARD AS VICE CHAIR – WHITE HOUSE
  • 22-Nov-2021 14:00:00 – WHITE HOUSE SAYS POWELL HAS PROVIDED STEADY LEADERSHIP DURING AN UNPRECEDENTEDLY CHALLENGING PERIOD
  • 22-Nov-2021 14:00:00 – WHITE HOUSE SAYS BRAINARD HAS PLAYED A KEY LEADERSHIP ROLE AT THE FED
  • 22-Nov-2021 14:00:00 – WHITE HOUSE SAYS POWELL AND BRAINARD SHARE THE ADMINISTRATION’S FOCUS ON ENSURING THAT ECONOMIC GROWTH BROADLY BENEFITS ALL WORKERS
  • 22-Nov-2021 14:00:00 – WHITE HOUSE SAYS POWELL AND BRAINARD HAVE ADVANCED KEY PRIORITIES THAT BIDEN SHARES INCLUDING ADDRESSING FINANCIAL RISKS FROM CLIMATE CHANGE, STAYING AHEAD OF EMERGING RISKS TO FINANCIAL SYSTEM
  • 22-Nov-2021 14:00:00 – WHITE HOUSE SAYS THE U.S. NEEDS STEADY, INDEPENDENT AND EFFECTIVE LEADERSHIP AT THE FED SO IT CAN ADVANCE GOALS OF KEEPING INFLATION LOW AND PRICES STABLE
  • 22-Nov-2021 14:00:00 – WHITE HOUSE SAYS BIDEN HAS FULL CONFIDENCE IN POWELL AND BRAINARD’S EXPERIENCE, JUDGEMENT AND INTEGRITY TO CONTINUE DELIVERING ON THOSE MANDATES
  • 22-Nov-2021 14:00:00 – WHITE HOUSE SAYS BIDEN STILL HAS THREE FED SEATS TO FILL, INCLUDING VICE CHAIR FOR SUPERVISION, AND INTENDS TO MAKE THOSE STARTING IN EARLY DECEMBER
  • 22-Nov-2021 14:00:00 – WHITE HOUSE SAYS BIDEN IS COMMITTED TO IMPROVING DIVERSITY IN THE BOARD’S COMPOSTION
  • 22-Nov-2021 14:00:00 – BIDEN SAYS HE IS CONFIDENT POWELL AND BRAINARD’S FOCUS ON KEEPING INFLATION LOW, PRICES STABLE AND DELIVERING FUL EMPLOYMENT WILL MAKE U.S. ECONOMY STRONGER THAN EVER BEFORE – WHITE HOUSE STATEMENT

 

Biden taps Powell for second terms as Fed chair; Brainard to be vice chair – Reuters News

Sentiment:
Mostly positive

  22-Nov-2021 14:00:00

To view this story on Refinitiv Workspace, click here

WASHINGTON, Nov 22 (Reuters) – Federal Reserve Chair Jerome Powell was nominated for a second four-year term by President Joe Biden on Monday, extending a tenure that began somewhat by chance, survived blistering criticism from former President Donald Trump, and now positions the ex-investment banker to finish the most consequential revamp of monetary policy since the 1970s.

Lael Brainard, the Federal Reserve board member who was the other top candidate for the job, will be vice chair, the White House said.

“While there’s still more to be done, we’ve made remarkable progress over the last 10 months in getting Americans back to work and getting our economy moving again," Biden, a Democrat, said in comments emailed to reporters. "That success is a testament to the economic agenda I’ve pursued and to the decisive action that the Federal Reserve has taken," he said.

Powell, 68, will need to be confirmed by the Senate, currently controlled by Biden’s Democratic party but closely divided. The decision to stick with Powell, a Republican and former private equity lawyer elevated to the Fed’s top job by Trump, rejuvenates what in recent decades had been a bipartisan approach to filling the position, and several Republican senators have already endorsed the reappointment despite Powell’s rocky relationship with Trump.

 

(Reporting by Jeff Mason and Howard Schneider;
Editing by Dan Burns and Andrea Ricci)

(( howard.schneider@thomsonreuters.com ; +1 202 789 8010; ))

(c) Copyright Thomson Reuters 2021. Click For Restrictions – agency.reuters.com/en/copyright.html

Keywords: USA-FED/CHAIR-POWELL (URGENT, PIX)

 

nS0N2RT053

 

 

Copyright © 2021 Refinitiv and/or its affiliates. All rights reserved. The Refinitiv content received through this service is the intellectual property of Refinitiv or its third party suppliers. Republication or redistribution of content provided by Refinitiv is expressly prohibited without the prior written consent of Refinitiv, except where permitted by the terms of the relevant Refinitiv service agreement. Neither Refinitiv nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon. Refinitiv and its logo are trademarks or trademarks of the Refinitiv group of companies around the world.

*****************************************

This email was sent to you from a Refinitiv product or service. Please visit https://www.refinitiv.com/workspace for more information

*****************************************

Archr LLP is Authorised and regulated by the Financial Conduct Authority (FCA reference 617163).
Archr LLP is not covered by the Financial Services Compensation Scheme (FSCS).
Archr is registered in England and Wales No. OC371018. Registered office 115B Drysdale Street, Hoxton, London, United Kingdom, N1 6ND

This message may contain confidential or privileged information. If you are not the intended recipient, please advise us immediately and delete this message. The unauthorised use, disclosure, distribution and/or copying of this email or any information it contains is prohibited.

This information is not, and should not be construed as, a recommendation, solicitation or offer to buy and sell any securities or related financial products. This information does not constitute investment advice, does not constitute a personal recommendation and has been prepared without regard to the individual financial circumstances, needs or objectives of persons who receive it.

You are receiving this email because you are a valued client of Archr.