Jerome Powell was confirmed by US President Joe Biden as head of the Federal Reserve. This is his second term. The President also appointed Lael Brainard as Deputy Chairman of the Central Bank.
“If we want to continue building on this year’s economic success we need stability and independence at the Federal Reserve. And I have full confidence, after their trial by fire over the past 20 months, that President Powell and Dr. Brainard will provide the strong leadership our country needs, “Biden writes, trusting that” Powell and Brainard’s attention to keeping low inflation and stable prices, plus their commitment to full employment, will make our economy stronger than ever.
The sentence that splits America
“Our country still faces major challenges as we emerge from the pandemic, but we have already made enormous progress in reviving our economy and in getting Americans back to work – continues the press release released by the White House – since the president entered in office, the economy has created over 5.6 million jobs, unemployment has dropped to 4.6% – two years faster than expected – and the pace of growth of our economy outstrips the rest of the developed world ” .