Stock Market Cafe
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Stock Market Cafe
No Result
View All Result
Home Trading News

Biden meets with Fed leaders Powell and Brainard as nomination decision nears

by
November 5, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Senators call on former Silicon Valley Bank, Signature Bank CEOs to testify

These beaten-down bank stocks have strong deposit bases and are well liked by analysts

Lael Brainard, governor of the U.S. Federal Reserve with Fed Governors, Jerome Powell and Stanley Fischer.

Andrew Harrer | Bloomberg | Getty Images

President Joe Biden met with Federal Reserve Chairman Jerome Powell and Governor Lael Brainard on this week as the administration decides whom to nominate to lead the central bank for the next four years, according to a person familiar with the matter.

Powell and Brainard, who met with Biden separately, are seen as the two most likely candidates to lead the globe’s most powerful central bank, which sets interest rates, works to control inflation and oversees the country’s largest banks.

The person told CNBC that the president has not made a final decision on who will lead the Fed. Washington and Wall Street expect a choice in the coming days.

The Democrat-controlled Senate would likely confirm either candidate as Fed chief. The Republican Powell could face resistance from progressives, and the Democrat Brainard would face opposition from the GOP.

At least a handful of moderate Democrats, and virtually every Senate Republican, would be expected to support Powell as an endorsement of his steady hand at the Fed.

The central bank flooded the U.S. economy with cash in the spring of 2020 to combat the spike in unemployment and recession sparked by the Covid-19 outbreak in the U.S. Wall Street credits the big-ticket monetary policy for stabilizing financial markets and keeping interest rates low.

Brainard is widely considered the top candidate for the open vice chair for supervision post if she is not tapped as chair. In that role, Brainard would become one of the nation’s top banking regulators and a key deputy to the chair.

Some progressive Democrats support her candidacy, arguing that Powell hasn’t pushed the Fed hard enough on issues like the economic effects of climate change or income inequality.

One progressive, Sen. Elizabeth Warren of Massachusetts, said in September that to leave Powell as chair would be a mistake. She added that the Fed’s recent rollback of banking regulations makes the central bank chief a “dangerous man.”

Earlier this week, the Fed announced that it will begin to taper its regular asset purchases used to help stimulate the economy during the pandemic.

The central bank has been buying $120 billion in Treasury bonds and mortgage-backed securities since spring of 2020 in an effort to ensure markets have easy access to liquidity and keep interest rates repressed.

It hasn’t said when it will begin to raise interest rates, and isn’t expected to do so for at least several months.

— CNBC’s Kayla Tausche contributed reporting.

ShareTweetPin

Related Posts

Senators call on former Silicon Valley Bank, Signature Bank CEOs to testify

by
March 23, 2023
0

In this article SBNYSIVB Follow your favorite stocksCREATE FREE ACCOUNT U.S. Sen. Sherrod Brown (D-OH) speaks to members of the...

These beaten-down bank stocks have strong deposit bases and are well liked by analysts

by
March 23, 2023
0

Bank stocks have been pummeled in recent weeks amid the ongoing crisis centered around regional banks -- but Wall Street...

Request for Bragg’s testimony on Trump probe is ‘unprecedented,’ Manhattan DA’s office tells GOP

by
March 23, 2023
0

District Attorney Alvin Bragg arrives at the office of District Attorney, after a message was posted on the Truth Social...

Ford’s EV business lost $2 billion in 2022, offset by big profits in fleet and legacy units

by
March 23, 2023
0

In this article F Follow your favorite stocksCREATE FREE ACCOUNT The badge of a Ford Motor Co. E-Transit electric vehicle...

Retirement vs. emergency savings: How to prioritize in a shaky economy

by
March 23, 2023
0

Jamie Grill | Getty Images When you're on a tight budget, It can be tough to decide between contributing to...

Next Post

November 5th COVID-19: "Path of the economy continues to depend on the course of the virus"

AAR: October Rail Carloads Down Compared to 2019

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Crocs sees fourth-quarter sales up 42%, CEO Andrew Rees says 2021 was ‘exceptional year’

    0 shares
    Share 0 Tweet 0
  • Biden didn’t accept Putin’s ‘red lines’ on Ukraine – here’s what that means

    0 shares
    Share 0 Tweet 0
  • The states that won’t tax military retirement in 2022

    0 shares
    Share 0 Tweet 0
  • Buying a car from the factory sounds expensive, but it can actually save you money. Here’s how to do it.

    0 shares
    Share 0 Tweet 0
  • Roth TSP vs. Roth IRA: How Do They Compare?

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.stockmarket-cafe.com
No Result
View All Result
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.stockmarket-cafe.com