Who Will Chair the Fed?
Al Drago/The New York Times via AP
Federal Reserve Chair Jerome Powell speaks during a Senate Banking Committee hearing on Capitol Hill, December 1, 2020, in Washington.
Bidenâs next major appointment will be the chair of the powerful Federal Reserve. The incumbent chair, Jay Powell, whose term expires in January, has made a big push to get reappointed.
Powell, an orthodox Republican, was appointed to the Fed by Obama in 2012 and elevated to chair by Trump in late 2017. But he has been a major ally of Bidenâs program of economic expansion, favoring very low interest rates and full employment. He has also urged Congress to spend a lot of money so that the entire burden of promoting recovery doesnât fall on monetary policy and the Fed.
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Werewolves Of Change: Remarks Before The ISDA Derivatives Trading Forum On Regulatory Change, SEC Commissioner Hester M. Peirce, April 28, 2021 Date
28/04/2021
Thank you, Scott [O’Malia], for that kind introduction and for inviting me to be part of today’s Derivatives Trading Forum. I will begin with my standard disclaimer that the views that I represent are my own and not necessarily those of the Securities and Exchange Commission or my fellow Commissioners.
Indeed, that disclaimer is particularly important at a time of leadership transition. We just last week welcomed a new chairman Gary Gensler. Although he is still getting settled in, the Commission will soon be busy addressing the issues that he identifies as priorities for the coming months and years. Chairman Gensler is, of course, something of a known quantity for many of you in this audience. Those of you who have been in the industry for a while had the opportunity to see him hard at work during his tenure as c
Economist has support of White House officials, allies outside administration
No decisions have been made, sources say
David Paul Morris/Bloomberg
If nominated and confirmed by the Senate, Lisa Cook would be the only Black woman on the Fed board.
Economist and Michigan State University professor Lisa Cook has the backing of several key White House officials and allies outside the administration as a possible choice for President Joe Biden in filling a vacancy on the Federal Reserve Board of Governors, according to people familiar with the matter.
Cook is also on the steering committee of the Washington Center for Equitable Growth, a think tank co-founded by White House adviser Heather Boushey. Treasury Secretary Janet Yellen was previously on the steering committee.