President BidenJoe BidenBiden to speak on economy Tuesday, with fed pick imminentNAACP president calls Rittenhouse verdict ‘a warning shot that vigilante justice is allowed’Democrats optimistic as social spending bill heads to SenateMORE will nominate Federal Reserve Chair Jerome Powell for another term leading the central bank and tap Fed Governor Lael Brainard to serve as vice chair of the Fed board.

Powell, a Republican, has chaired the Fed board of governors since 2018 and enjoys support within both parties. He was appointed to lead the bank by former President TrumpDonald TrumpTwo Fox News contributors quit over Tucker Carlson’s Jan. 6 documentary GOP senator: Decisions on bills not made based on if they hurt or help Trump or BidenO’Rourke won’t say if he wants Biden to campaign for him in Texas senate raceMORE five years after he was first nominated to the Fed board by former President ObamaBarack Hussein ObamaVoters need to feel the benefit, not just hear the messageIsrael signals confidence in its relationship with BidenObama wishes Biden happy birthdayMORE.

While Biden was expected by many to renominate Powell, the president had also faced pressure to replace him with a Fed chief more closely aligned with his broader economic agenda.

Brainard, the only Democrat on the Fed board, was the favorite choice of Powells liberal critics and the clear frontrunner to succeed him if Biden opted against renomination. Instead, she is on track to replace Fed Vice Chair Richard Claridaanother Trump-appointed Republicanwhen his term as the banks No. 2 expires in January.

Though Powell and Brainard have differing views on financial regulation and the Feds role in climate change, both are in sync with Bidens views on employment and inflation. Each has pushed the Fed toward a stronger focus on fostering a strong job market and a slightly higher tolerance for inflation.

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