June 27, 2022
Joe Biden said he believes in Jerome Powell as Federal Reserve Chairman
President Biden said Tuesday he backs Federal Reserve Chairman Jerome Powell amid harsh criticism from Sen. Elizabeth Warren, Massachusetts Democrat. When asked if still backed Mr. Powell, the president told reporters, “thus far, yes.” Mr. Powell, who was nominated by former President Trump to head the central bank, is scheduled to end his four-year term…

President Biden stated Tuesday he supports Federal Reserve Chairman Jerome Powell despite harsh criticisms from Senator Elizabeth Warren, Massachusetts Democrat.

When asked if he still supported Mr. Powell ,, the president replied, “so far, yes .”

Mr. Powell ,, who was appointed by President Trump to lead the central bank’s operations, will be retiring in February.

Mr. Biden so far hasn’t stated if he would seek to re-appoint Mr. Powell ,, which would require Senate approval.

But he ‘s came under fire from far-left Democrats following revelations that high-ranking Federal Reserve officials traded securities during the pandemic.

Ms. Warren claimed that Mr. Powell had created a “culture of corruption” in the bank. She stated that the transactions raised “legitimate concerns” about possible conflicts of interest or insider trading.

If Mr. Biden appoints Mr. Powell he will likely get widespread support from Republicans. In 2018, Mr. Powell was confirmed in an 84-13 vote, one of the largest for a Trump nominee.

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