{"id":53310,"date":"2021-11-22T17:32:55","date_gmt":"2021-11-22T15:32:55","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=53310"},"modified":"2025-09-03T14:34:13","modified_gmt":"2025-09-03T11:34:13","slug":"biden-plans-to-renominate-jerome-powell-for-a-second-term-as-fed-chair","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/biden-plans-to-renominate-jerome-powell-for-a-second-term-as-fed-chair\/","title":{"rendered":"Biden plans to renominate Jerome Powell for a second term as Fed chair"},"content":{"rendered":"<p>U.S. President Joe Biden announced his intention to renominate Jerome Powell for a second term as chair of the Federal Reserve (the Fed). The White House <a href=\\\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2021\/11\/22\/president-biden-nominates-jerome-powell-to-serve-as-chair-of-the-federal-reserve-dr-lael-brainard-to-serve-as-vice-chair\/\\\">noted<\/a> this on its website.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cChair Powell has provided steady leadership in an unprecedentedly difficult period, including the deepest recession in modern history and attacks on the independence of the Federal Reserve,\u201d Biden said.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>He also nominated Lael Brainard for the post of vice chair at the Fed. Earlier, media called her the main rival to Powell in the race for the chair. In her capacity as a member of the Board of Governors, Brainard said <a href=\"https:\/\/u1f987.com\/en\/news\/fed-officials-say-the-united-states-must-win-the-cbdc-race\">urgently accelerate the development of the digital dollar<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cI am confident that Chair Powell&#8217;s and Dr. Brainard&#8217;s focus on low inflation, price stability and full employment will make our economy stronger than ever,\u201d the president said.<\/p>\n<\/blockquote>\n<p>\\n\\n<\/p>\n<p>Finance Secretary Janet Yellen welcomed the move. In her view, Powell&#8217;s chairmanship and the Fed&#8217;s work under his leadership helped the economy \u201crecover from the health crisis.\u201d<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">The steady leadership of Chair Powell &#038; the Federal Reserve helped ensure our economy was able to recover from a once-in-a-generation health &#038; economic crisis. I\u2019m pleased our economy will continue to benefit from his stewardship, &#038; the expertise &#038; experience of Lael Brainard. <a href=\\\"https:\/\/t.co\/IKT5mwIcdO\\\">pic.twitter.com\/IKT5mwIcdO<\/a><\/p>\n<p>\u2014 Secretary Janet Yellen (@SecYellen) <a href=\\\"https:\/\/twitter.com\/SecYellen\/status\/1462788931695661059?ref_src=twsrc%5Etfw\\\">November 22, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n<\/p>\n<p>U.S. Senator and Bitcoin advocate Cynthia Lummis said she \u201clooks forward to\u201d meeting with Powell and Brainard. Earlier, she criticized Hillary Clinton for <a href=\"https:\/\/u1f987.com\/en\/news\/hillary-clinton-says-cryptocurrencies-threaten-the-us-dollar\">fears<\/a> about threats from cryptocurrencies, suggesting that digital gold could become a hedge for the dollar against inflation.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">I look forward to meeting with Chair Powell and Governor Brainard during the confirmation process, and discussing financial innovation, the impacts of skyrocketing inflation, and other issues affecting the people of Wyoming.<\/p>\n<p>\u2014 Senator Cynthia Lummis (@SenLummis) <a href=\\\"https:\/\/twitter.com\/SenLummis\/status\/1462803886469693447?ref_src=twsrc%5Etfw\\\">November 22, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n<\/p>\n<p>As of writing, Bitcoin traded at $58,185. Earlier the price briefly rose above $59,500. In the last hour, the asset fell 1.6%, according to <a href=\\\"https:\/\/www.coingecko.com\/ru\\\">CoinGecko<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<figure class=\\\"wp-block-image size-large\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" width=\\\"1024\\\" height=\\\"580\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2021-11-22_18-09-05-1024x580.png\\\" alt=\\\"Biden plans to keep Jerome Powell as Fed chair\\\" class=\\\"wp-image-156658\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2021-11-22_18-09-05-1024x580.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2021-11-22_18-09-05-300x170.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2021-11-22_18-09-05-768x435.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2021-11-22_18-09-05.png 1086w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><figcaption><meta charset=\\\"utf-8\\\">BTC\/USD hourly chart on Bitstamp. Data: <a href=\\\"https:\/\/ru.tradingview.com\/symbols\/BTCUSD\/\\\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>\\n\\n<\/p>\n<p>In July, the Fed chair warned that the advent of a digital dollar <a href=\"https:\/\/u1f987.com\/en\/news\/fed-chair-the-emergence-of-a-digital-dollar-would-dent-bitcoins-popularity\">will hurt Bitcoin&#8217;s popularity<\/a>. However, he said that for the United States it is more important to <a href=\"https:\/\/u1f987.com\/en\/news\/fed-chair-signals-possibility-of-issuing-a-digital-dollar\">launch a <span data-descr=\\\"central bank digital currency\\\" class=\\\"old_tooltip\\\">CBDC<\/span> properly<\/a>, than to be first.<\/p>\n<p>\\n\\n<\/p>\n<p>In September, Powell stressed that <a href=\"https:\/\/u1f987.com\/en\/news\/jerome-powell-the-fed-has-no-plan-to-ban-cryptocurrencies\">the Fed does not plan to ban cryptocurrencies<\/a>, but noted the need to bring some digital assets into the legal framework.<\/p>\n<p>\\n\\n<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. President Joe Biden announced his intention to renominate Jerome Powell for a second term as chair of the Federal Reserve. The White House said so on its website.<\/p>\n","protected":false},"author":1,"featured_media":53311,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1249,1440,1449,26],"class_list":["post-53310","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-federal-reserve-system","tag-jerome-powell","tag-joe-biden","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=53310"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53310\/revisions"}],"predecessor-version":[{"id":53312,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53310\/revisions\/53312"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/53311"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=53310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=53310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=53310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}