Biden Pick for Fed Chair Expected Soon, Yellen Says

Biden Pick for Fed Chair Expected Soon, Yellen Says
Treasury Secretary Janet Yellen speaks during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington on Sept. 28, 2021. Kevin Dietsch/Pool/AFP via Getty Images
Reuters
Updated:

DUBLIN—U.S. Treasury Secretary Janet Yellen said President Joe Biden should pick an “experienced and credible” person as Federal Reserve chair to reassure markets, and while current chair Jerome Powell fit the bill, others would too.

Powell, a Republican placed in the job by former President Donald Trump, is widely favored to win reappointment to another term, and some economists and investors have fretted that financial markets could see turbulence if Biden picks another candidate.