President Biden will nominate Federal Reserve Chair Jerome Powell (R), for another Term Leading the Central Bank, and tap Fed Governor Lael Brainard (D), to Serve as Vice Chair of the Fed Board.

Powell has Chaired the Fed Board of Governors since 2018 and enjoys Support within both Parties.

He was Appointed to Lead the Bank by Trump Five years, after he was First Nominated to the Fed Board by former President Obama.

While Biden was expected by many to Renominate Powell, Biden had also faced Pressure to Replace him with a Fed Chief more closely aligned with his Broader Economic Agenda.

Brainard, the only Democrat on the Fed Board, was the Favorite choice of Powell’s Liberal Critics, and the Clear Frontrunner, to succeed him if Biden opted against Renomination.

Instead, she is on track to Replace Fed Vice Chair Richard Clarida (R), another Trump-appointed Republican, when his Term as the Bank’s No. 2 Expires in January, 2022.

Though Powell and Brainard have differing Views on Financial Regulation, and the Fed’s Role in Climate Change, both are in Sync, with Biden’s Views on Employment and Inflation.

Each has pushed the Fed toward a Stronger Focus on Fostering a Strong Job Market, and a slightly Higher Tolerance for Inflation.










NYC Wins When Everyone Can Vote! Michael H. Drucker