After bidding has supervised the largest currency expansion in US history, Biden Powell appoints Fed's Feder Economics leader

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Von: Krypto News Österreich

after the supervision of the largest currency expansion in the history of the USA, Biden Powell appoints head of the Fed

US President Joe Biden announced on Monday that Jerome Powell as chairman of the Federal Reserve is again nominated. Important indices and stocks gained the news that Powell received a second term as head of the central bank.

biden decides to renomate Fed chairman Jerome Powell

On Monday, President Joe Biden that he selected Jerome Powell for another To lead the term. Powell will act as chairman during his second term, while Lael Brainard will act as the deputy chairman of the Fed. Powell's appointment follows the uncertainty about who would take his seat.

At the end of August, the three Democrats Alexandria Ocasio-Cortez (AOC), Rashida Tlaib and Ayanna Pressley urge to choose a chairman who deals with social change and the so-called climate crisis. Two weeks later, however, sources to Washington said that bidges Would rename Powell.

Last week it was further detailed in the headlines that President Biden Biden shortly before his decision and Lael Brainard was listed as a top pick. After Biden's decision to nominate Powell for a second term, US Finance Minister Janet Yellen called that the decision would enable the American economy to "continue to benefit from its administration".

"America needs a steady, independent and effective leadership of the Federal Reserve, so that it can achieve its two goals to keep inflation low and low and create a strong job market that benefits the workers with better jobs and higher wages in general", white house explained in a statement about the renomination of Powell. The white house added:

President Biden has full confidence in the experience of doing the judgment and the integrity of Powell and Brainard in order to continue to meet these mandates and to better rebuild our economy for working families.

Peter Schiff: "With Brainard as the deputy chairman, inflation will surely get worse"

biden and a majority of US politicians are always looking for ways to finance their goals, and the new choice of Powell will probably keep the flow of money strong.

The economist and gold beetle Peter Schiff explained that this is probably the case. "As expected, Biden Powell has appointed Fed chairman," said Schiff tweeted . The economist continued:

Despite [HIM Doing], lousy jobs, as the maintenance of QE and ZIRP showed in view of the highest inflation for 30 years, Powell was the politically safe choice. With Brainard as the deputy chairman, inflation will certainly get worse.

also emphasized that Jerome Powell supervised that the US money volume was extended more than ever in America's history. Undoubtedly, we live in interesting times when Jerome Powell, the man who experienced a 40 percent expansion of the money supply within months and in the time it takes to have a domino’s pizza delivered, brought $ 5 trillion in the balance of the Fed, the "false" choice, a person called "Quoth the raven" wrote .

What do you think that Joe Biden Jerome Powell chose for a second term as head of the US Federal Reserve? Let us know your opinion on this topic in the comments below.

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