President Joe Biden named Jerome Powell for another term as chair of the Federal Reserve. Fed Governor Lael Brainard is made vice-chair, replacing Richard Clarida who is the third senior Fed official to leave after revelations of “insider” trading. Big banks are all very happy with Powell. But as vice-chair Brainard will be able to push Fed-backed “green bonds” à la ECB, and partner with Treasury Secretary Janet Yellen to make the Financial Stability Oversight Committee a totally green driver of the banking system.
Biden Makes Fed Appointments
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