Jerome Powell’s handling of the economic fallout from the Covid-19 pandemic has won the Federal Reserve Chairman the support of the White House for a second term as head of the world’s largest central bank.
Despite speculation that he could sack the person Donald Trump appointed, Joe Biden cited the decisive action taken by Powell at the start of the crisis as a reason to re-elect the 68-year-old Republican for another four years.
The White House said Lael Brainard the only Democrat on the Fed’s board, whom some had suggested as a possible replacement for Powell, was his choice to become vice president.
The appointments go back to a tradition of a non-partisan approach to the top Fed post that was shattered by Trump. Some progressive Democrats had called on Biden to take the same approach and appoint Brainard in place of Powells.
Both appointments are subject to the approval of a Democrat-controlled Congress and come at a time when the Fed is grappling with an annual inflation rate of 6.2%, the highest level in more than three decades .
As I said before, we can’t just go back to where we were before the pandemic, we need to better rebuild our economy, and I have no doubts that President Powell and Dr Brainards are focused on keeping inflation down. at a low level, price stability and full employment will make our economy stronger than ever, Biden said.
After appointing Powell to head the Fed, Trump appeared to regret his choice and subjected the former investment banker to repeated criticism for his refusal to stimulate the economy as much as the then president demanded. .
But the central bank acted quickly when the global economy and global financial markets were rocked by the arrival of Covid-19 in early 2020. US interest rates were cut to near zero and the Fed cut resumed bond purchases which would result in its holdings of US Treasuries and other securities up $ 4 billion ($ 3 billion).
President Powell provided consistent leadership during an unprecedented period, including the biggest economic downturn in modern history and attacks on the independence of the Federal Reserve, according to the White House statement.
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]