Challenges Facing the Federal Reserve

Federal Reserve Board Chair Jerome Powell (L) speaks as Lael Brainard (R) listens during an announcement at the South Court Auditorium of Eisenhower Executive Office Building in Washington on Nov. 22, 2021. Alex Wong/Getty Images

News Analysis

President Joe Biden has nominated current Federal Reserve Chairman Jerome Powell to a second four-year term, in an announcement that follows months of speculation and indecision as the Biden administration resisted calls from factions of the Democratic Party to remove Powell.