Sumary of Powell Will Get a Second Term as Fed Chief: Wall Street Tea-Leaf Readers:
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- President Joe Biden will give Fed Chairman Jerome Powell a second four-year term, say analysts who keep tabs on Washington for Wall Street and are now fairly certain about his renomination.
- That’s the consensus,” said Stephen Myrow, managing partner of Beacon Policy Advisors, in an interview.
- ” Earlier in the summer, Myrow and other Washington tea-leaf readers thought that Biden might decide to select a “groundbreaking” appointment such as the first Black Fed chair.
- Perhaps the only insight into the White House process was a Bloomberg story which quoted people close to Treasury Secretary Janet Yellen saying that she told senior White House advisors that she supports reappointing Powell.
- If the Fed announcement drags on into late October, that might be a signal that the White House is considering somebody other than Powell, Leiber said.