Experts React to Fed Chair Powell’s Renomination: ‘Sound, Tested, Respected, and Familiar’

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

President Joe Biden announced Monday he will be renominating Federal Reserve Chairman Jerome Powell for a second term as Fed chair and will nominate Fed Governor Lael Brainard as vice chairman.

Biden was widely expected to nominate either Powell or Brainard for the position of Fed chair. Powell was initially nominated by former President Donald Trump in 2017, but Trump was highly critical of Powell during his first term in the position.