Certainty Over Uncertainty: Biden Nominates Powell for Another Term as Fed Chair

November 23, 2021 | ,

In a move especially pivotal given today’s elevated inflation as the economy is resuscitated out of the pandemic, President Joe Biden announced yesterday morning (November 22nd) that he would nominate the incumbent Jerome Powell for another term as Chair of the Federal Reserve. Additionally, Biden nominated Lael Brainard as Vice Chair. Both Powell and Brainard had been under consideration for the Chair role in uncharacteristically lengthy deliberations on the part of Biden, who had interviewed both for the position on November 4th.

This newsletter provides background on Powell and Brainard, covers the market reaction to Biden’s announcement, and analyzes expectations for interest rates and inflation in the coming years.

Read > Certainty Over Uncertainty: Biden Nominates Powell for Another Term as Fed Chair

 

The opinions expressed herein are those of Marquette Associates, Inc. (“Marquette”), and are subject to change without notice. This material is not financial advice or an offer to purchase or sell any product. Marquette reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs.