Jerome Powell’s chances for a second term as Federal Reserve chair gained momentum with Treasury Secretary Janet Yellen’s endorsement, a move that would reduce uncertainty about the path for monetary policy amid risks from inflation and the delta variant.
Yellen has told senior White House advisers that she favors renominating Powell, whose current term ends in February, according to people familiar with the matter. President Joe Biden hasn’t decided yet and is likely to make his choice around Labor Day, which falls on Sept. 6 this year, the people said.
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August 23, 2021 at 05:30AM
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Powell's Second-Term Chances Rise With Key Yellen Endorsement - Bloomberg
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