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MNI BRIEF: Biden--Bipartisanship Played Role in Powell Pick

(MNI) WASHINGTON

U.S. President Joe Biden said Monday his decision to reappoint Republican Jerome Powell for a second term as chair was driven in part by a desire for continuity and stability and to avoid the impression of political bickering over the central bank

"I believe having Fed leadership with broad bipartisan support is important, especially now in a politically divided nation," Biden said in a speech announcing Powell's renomination along with the appointment of Governor Lael Brainard as the Fed's new vice chair.

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com

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