Jerome Powell is Nominated as the FED’s Chair for the Second Term

President Joe Biden on Monday nominated Jerome Powell for the second four year term as the Federal Reserve’s chair. The ex-investment banker now holds the most daunting policy challenges since 1970s.

The White House also announced, Lael Brainard will act as the vice chair of the Federal Reserve.

According to Reuters, Biden in comments emailed to reporters 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,”. “That success is a testament to the economic agenda I’ve pursued and to the decisive action that the Federal Reserve has taken,” he added.