Biden’s Pick for Fed Chair Imminent

Jerome Powell and Lael Brainard are widely believed to be the two frontrunners for the Fed Chair’s position. No other names have leaked to the public according to key media outlets in Washington DC.

Brainard, if appointed, would be the second woman to head the US Federal Reserve Bank, following Treasury Secretary Janet Yellen.

Senate Banking Chair Sherrod Brown said that the White House officials had told him that President Biden’s pick of a Federal Reserve chief is imminent, though he cautioned that he does not know any additional details on timing or who the highly anticipated pick will be.

Jerome Powell is currently leading Fed and he still could be nominated to another term. But Biden is facing pressure from the left to nominate a different candidate, such as Brainard.