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Powell Facing Growing Resistance to Second Term, According to Dow Jones

FED
  • Dow Jones reports that while Fed chair Powell has support among Biden's economic team for a second term, he is beginning to face growing resistance from prominent Democratic lawmakers including Senator Warren.
  • The piece goes on to say that should Powell not be awarded a second term, then the leading contender for the role would be Fed's Brainard.
  • It's thought that opposition to Powell's reappointment would be based on his openness to easing financial regulations that had been installed after the 2008 crisis.

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