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Federal Reserve Chairman Jerome Powell adjusts his tie as he arrives to testify before a Senate Committee on Banking, Housing and Urban Affairs hearing on “The Semi-Annual Monetary Policy Report to Congress” on Capitol Hill in Washington, United States, July 15, 2021. REUTERS / Kevin Lamarque
Aug.26 (Reuters) – Advisors to U.S. President Joe Biden are considering recommending Jerome Powell for a second term as Federal Reserve chairman with Lael Brainard as chief regulator, Bloomberg News reported Thursday, citing people familiar with the matter.
Biden has yet to weigh in on Fed staff decisions and a decision on his part is not expected until the fall, Bloomberg said.
Bloomberg previously reported that Powell had the backing of Treasury Secretary Janet Yellen to remain president. Read more
Reporting by Bhargav Acharya in Bengaluru; Editing by Tom Hogue
Our Standards: Thomson Reuters Trust Principles.
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