‘Minister Yellen supports reappointment of Fed chief’ | Financial

Powell’s first four-year term at the central bank ends in February. President Joe Biden has not yet decided on a possible reappointment and is expected to make a decision in September. According to insiders, the White House is still working on examining other candidates, including Fed director Lael Brainard.

Experts think that Yellen’s support for a reappointment of Powell will greatly increase his chances of becoming Fed chairman again. Yellen was also president of the US central bank in the past. Furthermore, Powell would be seen by investors on Wall Street as a solid driver who has helped the US economy well during the corona pandemic with interest rate cuts and stimulus programs.

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