WASHINGTON, Dec 16 — With the US Federal Reserve set to take a more aggressive stance against inflation, central bank chair Jerome Powell said Wednesday there was no connection between the policy shift and his nomination for a second term. The Fed had earlier in the day announced it would speed...
WASHINGTON, Dec 16 — With the US Federal Reserve set to take a more aggressive stance against inflation, central bank chair Jerome Powell said Wednesday there was no connection between the policy shift and his nomination for a second term.
The Democratic president last month nominated Republican Powell for a second term as central bank chair, but addressing reporters following the conclusion of the FOMC meeting, Powell denied any connection between the Fed’s moves to counter inflation and Biden’s decision. He added that he concluded a swifter pullback in stimulus was necessary 10 days before Biden chose to renominate him.
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