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Biden picks Powell to lead Fed for second term, betting on stability at central bank

By Zach Halaschak
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Biden picks Powell to lead Fed for second term, betting on stability at central bank

President Joe Biden has opted to keep Jerome Powell as chairman of the Federal Reserve as he attempts to guide the country through an economic recovery marred by inflation.

Powell, a Republican, has won over significant Democratic support and represents continuity as the United States navigates the fallout of the COVID-19 pandemic.

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Banks Biden Administration Federal Reserve Jerome Powell