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Here’s How Markets Might React If Biden Picks Lael Brainard as Fed Chair

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Reuters

Biden says he will make final decision about Federal Reserve chair in about 4 days

U.S. President Joe Biden said on Tuesday he will make a final decision in about four days on his nominee to head the Federal Reserve, a critical choice for the first-term Democrat and one that could well have a bearing on how his economic agenda plays out. Asked by a reporter if he was “any closer to a decision” on the U.S. central bank’s chair, Biden, after a pause, said: “Yes, as my grandfather would say, with the grace of God and the goodwill of the neighbors, you’re gonna hear that in about four days.” An official of the Biden administration said last week the president was still weighing whether to keep Jerome Powell for a second term as Fed chair or elevate Fed Governor Lael Brainard to the post.

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