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Powell’s reappointment gives investors stability

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Reuters

By David Randall, Lewis Krauskopf and Shreyashi Sanyal NEW YORK (Reuters) – Biden’s pick of Jerome Powell to continue as Federal Reserve Chair reassured investors who said it gave some predictability as the central bank prepares to start hiking rates and slows the pace of bond buying. Many investors had hoped that Powell, who was nominated as chair by President Donald Trump in 2017, would be renominated by President Joe Biden for another four-year stint. On Monday, Biden nominated Powell for a second four-year term, with Lael Brainard, the Federal Reserve board member who was the other top can…

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