CNBC/Jeff Cox and Thomas Franck/11-22-2021
“President Joe Biden announced Monday that he is renominating Jerome Powell for a second term as Federal Reserve chair and will put forth Fed Governor Lael Brainard as vice chairman. The move comes after weeks of speculation that Brainard might get the nod. In making the move, Biden praised Powell for “decisive” leadership during the Covid crisis.”
USASGOLD note: Gold made an abrupt turn to the south after this announcement. Brainard was the ultra-dovish choice. Powell was the dovish choice. Biden went dovish, staying the course with Powell.
