US President Joe Biden has announced that he will reappoint Fed Chair Powell, who will expire in February next year.
This is because we evaluated the crisis response following the spread of the new coronavirus infection, and we will face the issue of prolonged inflation in the future.
President Biden announced on the 22nd that he will reappoint Chairman Powell, who will expire in February next year, by announcing the appointment of the Fed, the central bank.
Powell took office in 2018 during the pre-Trump administration, and introduced a large-scale monetary easing policy consisting of zero interest rates and quantitative easing in March last year when the infection with the new coronavirus spread rapidly. , Has endeavored to support the economy.
Some of the ruling and Democratic leftists did not support the reappointment because of insufficient regulation of financial institutions and efforts to tackle climate change issues, but President Biden evaluated his ability so far.
In addition, the Fed's director Brainard, who had been urged to be the female chairman within the Democratic Party, will be appointed as the vice-chairman.
"We are confident that the two will make the economy stronger than ever by working to stabilize prices and improve employment," Biden said in a statement.
The personnel affairs this time will be officially decided after the approval of the parliament.
The Fed has begun to reduce the scale of quantitative easing this month and is making policy shifts from the crisis response of the Corona disaster, but the US economy is worried about inflation, and Chair Powell said prices while maintaining economic recovery. You will face the challenge of curbing the rise.