Federal Reserve Board Chair Jerome Powell – Reuters
WASHINGTON: Federal Reserve Chair Jerome Powell, who navigated a combative White House and a pandemic in his first years as head of the U.S. central bank, is facing a critical chapter in his leadership with a battle against inflation still unresolved, worries about recession widespread, and developing criticism of the Fed's oversight of the financial industry.
On one level, President Joe Biden's nomination last week of a relatively new member of the Fed's board of governors to become vice chair of the central bank seems a vote of confidence in Powell, who was elevated to the top job by former President Donald Trump, given a second term by Biden, and is now a senior figure with more than a decade-long tenure at the Fed.
