In a few days the decision should be made as to who will lead the US Federal Reserve in the future.

President Joe Biden announced Tuesday that he would make his final election in about four days.

Last week it was reported from government circles that Biden was still considering whether he would nominate incumbent Jerome Powell for a second term or long-standing central bank director Lael Brainard for the Fed chief post.

Most of the economists surveyed by Reuters expect Biden to opt for continuity at the top of the Fed.

The most influential central bank in the world has only just initiated the gradual exit from the very loose monetary policy that was initiated at the height of the Corona crisis in 2020. 

In view of the inflationary dynamic, the Fed is discussing tightening monetary policy.

Biden recently made fighting inflation one of his priorities.

On Tuesday, US currency watchdog James Bullard called for an interest rate turnaround as early as possible next year.

It would be good for the Fed to take a tighter line in order to adequately counter the risk of inflation, the chief of the Fed district St. Louis told Bloomberg TV on Tuesday.

This could also include first stepping up the pace of reducing bond purchases.