LONDON—Stock markets fell sharply and the dollar held on to recent gains on Tuesday as investors positioned for interest rate hikes in 2022 after Federal Reserve Chairman Jerome Powell was nominated for a second term. After Wall Street turned lower on Monday, Asian shares dropped and European stocks opened in the red. Futures on Wall…
Shares Shrivel After Powell’s Renomination; Turkish Lira Crashes
November 23, 2021
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Experts React to Fed Chair Powell’s Renomination: ‘Sound, Tested, Respected, and Familiar’
November 23, 2021
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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…
Fed in Second Powell Term Must Ensure Inflation Does Not Become ‘Endemic’: Yellen
WASHINGTON—The Federal Reserve during Jerome Powell’s second term as chair will have an important role to play over the longer term to ensure that inflation does not become “endemic,” Treasury Secretary Janet Yellen told CNBC on Monday. Yellen said she believed Powell’s nomination and that of Lael Brainard as vice chair would win broad support…
NTD Business Full Broadcast (Nov. 22)
President Biden, renominating Fed chair Jerome Powell for another term. Looks like a smooth confirmation ahead. We have analysis. General Motors now exploring electric boats — buying stake in a company that makes electric boat motors. The deal is supposed to benefit both companies.
US Bank Stocks Rise as Industry Welcomes Powell Renomination
November 22, 2021
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NEW YORK—U.S. bank stocks rose on Monday as senior bankers and industry figures welcomed Federal Reserve Chair Jerome Powell’s nomination by President Joe Biden for a second four-year term. Biden, in a statement emailed to reporters, paid tribute to the “decisive action” which the Fed had taken in response to the COVID-19 pandemic. And senior…
S&P 500, Nasdaq Hit Record Highs After Powell Nomination
November 22, 2021
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The S&P 500 and the Nasdaq hit record highs on Monday after President Joe Biden picked Federal Reserve Chair Jerome Powell to lead the bank for a second term, keeping the status quo as the central bank plans to wind down pandemic-era stimulus. The Dow Jones Industrial Average rose 29.43 points, or 0.08 percent, at…
Biden Picks Powell to Lead Fed for a 2nd Term, Brainard Nominated as Vice Chair
President Joe Biden has picked Federal Reserve Chair Jerome Powell to serve a second four-year term at the helm of the central bank, while nominating Lael Brainard, the only Democrat on the Fed’s seven-member board, to serve as second-in-command at the Fed. The White House announced Biden’s decision in a Nov. 22 release, ending weeks of…
Two Democrats Try to Sink Powell’s Renomination Over Reluctance to Use Fed to Fight Climate Change
November 19, 2021
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Two Democrat senators have launched a last-minute bid to sink the potential renomination of Federal Reserve Chair Jerome Powell for another term due to the Trump-appointed policymaker’s reluctance to use the central bank’s tools to fight climate change. Sens. Sheldon Whitehouse (D-R.I.) and Jeff Merkley (D-Ore.) urged President Joe Biden not to reappoint Powell, saying…
WSJ Editorial Board Says Choice for Federal Reserve Chief Is Between ‘Tweedledum and Tweedledee’
November 18, 2021
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The Wall Street Journal Editorial Board said Wednesday that the choice between the next chair of the Federal Reserve is a choice between “Tweedledum and Tweedledee.” President Joe Biden last week met with the two leading candidates, current Chairman Jerome Powell and governor Lael Brainard, ahead of his decision to appoint one of them to…
Fed’s Powell: Could Reach Maximum Employment by Mid-2022
Federal Reserve Chair Jerome Powell on Wednesday said it is possible the U.S. job market may have improved enough by the middle of next year to be considered at “maximum employment,” a key hurdle to clear for the central bank to consider increasing interest rates. Powell, speaking at a press conference after the Fed’s latest…
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