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Biden's decision, reached after extensive consideration, strikes a note of continuity and bipartisanship at a time when surging inflation is burdening households and raising risks to the economy's recovery.
President Joe Biden announced Monday he s nominating Jerome Powell for a second four-year term as Federal Reserve chair, endorsing Powell s stewardship of the economy through a brutal pandemic recession in which the Fed s ultra-low rate policies helped bolster confidence and revitalize the job market.