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Federal Reserve Board Chairman Jerome Powell testifies during a hearing before Senate Banking, Housing and Urban Affairs Committee on Capitol Hill in Washington, on Nov. 30, 2021. Alex Wong/Getty Images
For investors who took a break from the market during Thanksgiving week, one of the biggest Wall Street headlines they may have missed was President Joe Biden’s decision to renominate Federal Reserve Chairman Jerome Powell for a second term in the position as the Fed begins its post-COVID-19 pandemic tightening program.
Stocks finished down last week sharply on news of the new Omicron COVID-19 variant, but there’s no question Powell has been very good for investors overall during his time in office.
Powell Good to Invest In, Good for Investors
Last week, LPL Financial Chief Market Strategist Ryan Detrick said there are plenty of reasons for Biden to stick with Powell for another term.
