Biden advisers weigh Powell as Fed chair, Brainard as vice chair -Bloomberg News

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FILE PHOTO: Federal Reserve Chair Jerome Powell adjusts his tie as he arrives to testify before a Senate Banking, Housing and Urban Affairs Committee hearing on “The Semiannual Monetary Policy Report to the Congress” on Capitol Hill in Washington, U.S., July 15, 2021. REUTERS/Kevin Lamarque

(Reuters) – U.S. President Joe Biden’s advisers are considering recommending Jerome Powell for a second term as Federal Reserve chair with Lael Brainard as chief regulator, Bloomberg News reported on Thursday, citing people familiar with the matter.

Biden is yet to weigh in on Fed personnel decisions and a decision by him is not expected until fall, Bloomberg said bloom.bg/38g2h3w.

Bloomberg has previously reported that Powell has the backing of Treasury Secretary Janet Yellen to remain as chair.

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