President Biden nominates Jerome Powell for second term in Fed command

File photo of Federal Reserve Chairman Jerome Powell attending a hearing before the House Financial Services committee at the Capitol complex in Washington, United States. September 30, 2021. Al Drago / Pool via REUTERS / Archive

Nov 22 (Reuters) – US President Joe Biden has nominated Jerome Powell for a second four-year term at the head of the Federal Reserve, the White House announced in a statement on Monday.

The Democratic president also nominated Fed Governor Lael Brainard to serve as vice president of the central bank, the White House said.

“(Fed Chairman Jerome) Powell has provided solid leadership in unprecedented critical times that included the worst economic crisis in modern history and attacks on the independence of the Federal Reserve,” the White House said, referring to the agency’s response to the recession caused by the pandemic and the criticism Powell faced during the government of former Republican President Donald Trump.

(Edited in Spanish by Marion Giraldo)

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