El presidente de EE. UU., Biden, se acerca a la decisión de elegir al presidente de la Fed: los informes indican una disputa entre Powell y Brainard

Following the passing of the Biden administrations infrastructure bill, los Estados Unidos. president appears to be nearing his decision on whether or not he will reappoint Jerome Powell, the current Federal Reserve Board chairperson. According to a few reports Powell may be chosen, but other reports say the Feds Board of Governors member, Lael Brainard, could also be a frontrunner for the position.

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President Biden to Choose Fed ChairFairly Quickly

Amid the rising inflation and supply chain woes, A NOSOTROS. president Joe Biden is thinking about who will run the Federal Reserve when Jerome Powells term ends next February. Media pundits say the timingis crucial,” as the U.S. central bank has been discussing tapering back quantitative easing (QE) and adjusting rates upwards. por supuesto, these have all been just conversations so far and the members of the Fed have yet to decide on tapering back large asset purchases and hiking the benchmark rate.

Mientras tanto, rising inflation has reared its ugly head in the lives of Americans, and purchasing power has been eroding over the last 12 meses. Esta semana’datos from the consumer price index (IPC) saltó 6.2% from a year ago and stock markets shuddered after the news broke. The latest CPI data even pushed Biden to make a statement about the rising inflation as the U.S. president said the White House would be focused on getting people back to work, “getting prices down,” y “making sure our stores are fully stocked.

Now various reports say that Biden is in the midst of choosing a new Federal Reserve Board chairperson or planning to let Jerome Powell keep his post. CNN contributors John Harwood and Phil Mattingly explain que “[Jerome] powell [es] seen as the frontrunner to be Bidens pick for Federal Reserve chair as he nears a decision.The CNN report notes that Bidens decision could happen as early as next week. It is also assumed that Biden will sign the new infrastructure bill on Monday.

BrainardMore Aligned With Left-LeaningPoliticians, Financial Services Committee Members Urge Biden to Choose New Lead, Powell StillFavored’ por ‘Both Sides

11 hace días, Biden spoke about his decision about the Fed chair position at a news conference and hinted at choosingfairly quickly.” “yo’ve given a lot of thought to it, and Ive been meeting with my economic advisors on what the best choices are, and weve got a lot of good choices,” Biden told reporters. “But Im not going to speculate now,” the president added. Despite CNNs report, other editorials claim that Biden may choose the Feds Board of Governors member Lael Brainard. Rob Garver, a contributor to voanews.com, dice the recent inflation spike may sway Bidens Fed chair decision.

Garver highlights that Powell is a Republican and was chosen by former U.S. president Donald Trump. As far as Brainard is concerned, she is a Democrat and ismore aligned with left-leaning members of her party, such as U.S. senator Elizabeth Warren of Massachusetts,” Garver details. Sin embargo, Garver further explains that the current Fed chair isfavoredat the moment. Christopher Russo, a research fellow at George Mason Universitys Mercatus Center, told VOAs Garver: “Powell has built up a great amount of credibility with both sides, both Republicans and Democrats.Russo further added:

In the pandemic, the Fed adopted a flexible average inflation target, meaning that they are going to run inflation above target after periods where it ran below target, and Powell has done a lot of work to explain the importance of that policy to skeptics in Congress.

The reports concerning Biden choosing a new Fed chairperson soon follow the mid-Septembersources with ties to Washington,” saying that Biden will renominate Jerome Powell. Sin embargo, three politicians from the House Financial Services Committee have been urging Biden to choose a new Fed chair who will address social justice and climate change. A NOSOTROS. Democratic representatives Alexandria Ocasio-Cortez (AOC), Rashida Tlaib, and Ayanna Pressley stressed on August 30:

Under his leadership, the Federal Reserve has taken very little action to mitigate the risk climate change poses to our financial system.

The recently passed 1,600-pageBuild Back Betterinfrastructure bill allocates around $550 billion toward fighting the alleged climate crisis in the United States. Despite the massive amounts of flexibilización cuantitativa (QE) tactics and a benchmark rate suppressed at zero, Jerome Powell’s efforts since being appointed by former president Trump may not be good enough for members of the Democratic party.

What do you think about Joe Biden possibly choosing a new Federal Reserve Board chairperson next week after signing the new infrastructure bill? Háganos saber lo que piensa sobre este tema en la sección de comentarios a continuación..