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Sen Brown: Biden To Pick Up To 4 Fed Leaders At Once

FED

Sen Brown comments on BBG TV that Pres Biden will "probably" name a list of candidates for all of the vacancies outstanding, rather than name them one-by-one, at the same time he unveils his decision on who the next Fed Chair will be (Powell remains bookies' favorite to be reappointed).

  • If that's true, Biden's list of appointees could run to as many as 4 people.
  • Powell's term as chair is up in February 2022. Quarles' term as vice chair for supervision has expired and that position is vacant. (Though Quarles' term on the Board of Governors ends in 2032, Powell's in 2028). Vice Chair Clarida's term expires at the end of Jan 2022. And there's one vacant seat on the Board of Governors (term expiring in 2024).
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