<Anchor>
Jerome Powell, chairman of the US Federal Reserve, has remained in office. It appears that President Biden's judgment is more about stability than on changes in economic policy, and Chairman Powell said he will focus on job stability and countering inflation.
Correspondent Kim Jong-won from New York.
<Reporter>
Jerome Powell, the current chairman of the U.S. Federal Reserve, who is called the president of the world economy, has been retained.
It is analyzed that President Biden, who suffered a severe blow to his approval rating due to a sharp rise in prices due to recent inflation, chose continuity and stability of economic policies to stabilize prices.
[Joe Biden/President of the United States: During last year's job bleed and financial markets plunged into chaos, Chairman Powell's steadfast and determined leadership helped stabilize markets and put the economy on a strong track of recovery.]
Chairman Powell dismissed high inflation in the United States as a temporary phenomenon due to the recovery from the corona crisis, but as the unexpectedly higher-than-expected inflation continued unabated, he recently expressed concerns about prolonged inflation and initiated price stabilization policies such as reducing the government's asset purchases. is betting
[Jerome Powell/Federal Reserve Chairman: We will mobilize the tools we have to support a strong labor market and prevent prolonged high inflation.]
On the other hand, it seems that the calculation that the confirmation process will be smooth if the opposition Republican-leaning Chairman Powell remains in the position of the Fed chairman, which needs confirmation by the Senate, seems to have been reflected.
President Biden has appointed the progressive Brainard as vice-chairman of the Fed.
The Fed's stance that it is not yet time to raise rates is likely to continue for the time being as Powell remains.