{"id":1043498,"date":"2021-11-22T09:58:29","date_gmt":"2021-11-22T14:58:29","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1043498"},"modified":"2021-11-22T09:58:33","modified_gmt":"2021-11-22T14:58:33","slug":"biden-set-to-tap-fed-chair-jerome-powell-for-second-term","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-set-to-tap-fed-chair-jerome-powell-for-second-term\/","title":{"rendered":"Biden Set to Tap Fed Chair Jerome Powell for Second Term"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbiden-set-to-tap-fed-chair-jerome-powell-for-second-term%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1043498&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/Jerome-Powell-Getty-e1547070817129.jpeg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p class=\"subheading\">Jerome Powell will get the nod for a second term heading the Federal Reserve, according to the White House.<\/p>\n<p>\u201cToday, President Biden announced his intent to nominate Jerome Powell for a second term as Chair of the Board of Governors of the Federal Reserve System,\u201d the White House said in a statement released Monday.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>President Biden had been under pressure from the leftwing of his party to bring in a new Fed chair. Senator Elizabeth Warren (D-MA) said she opposed Powell getting a second term on the grounds that she believes he is too lax when it comes to banking regulation. Others have centered their criticism of Powell around the issue of climate change, demanding the Fed use its bank supervision authorities to cajole companies out of fossil fuel use, for example.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>In recent months, Fed governor Lael Brainard emerged as a top contender for the job. Sen. Warren, for example, praised her work on banking regulation at the Fed. On Monday, the White House said Biden would name her Vice-Chair of the Fed\u2019s Board of Governors, the central bank\u2019s second highest ranking position.<\/p>\n<p>Despite the criticism from the left, Powell is expected to easily win confirmation in the Senate, where 68 of the 84 lawmakers who voted in his favor four years ago are still sitting lawmakers.<\/p>\n<p>\u201cIf we want to continue to build on the economic success of this year, we need stability and independence at the Federal Reserve \u2014 and I have full confidence after their trial by fire over the last 20 months that Chair Powell and Dr. Brainard will provide the strong leadership our country needs,\u201d Biden said in a statement.<\/p>\n<p>The decision to nominate Powell to a second term likely reflects some concern on the part of the White House over high and rising inflation. Powell has largely escaped blame for inflation despite holding a position whose duties include maintaining price stability.&nbsp; Nominating someone seen as more dovish on inflation might have been interpreted as a signal that the White House was willing to accept even higher and longer-lasting inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jerome Powell will get the nod for a second term heading the Federal Reserve, according to the White House. \u201cToday, President Biden announced his intent to nominate Jerome Powell for &#8230;<\/p>\n","protected":false},"author":11,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1043498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1043498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1043498"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1043498\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1043498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1043498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1043498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}