Biden Renominates Powell as Fed Chair

Today, I’m nominating Jerome Powell for a second term as chair of the Federal Reserve. And I’m — I’m nominating Lael Brainard to take the position as vice chair of the Federal Reserve. When our country was hemorrhaging jobs last year and there was panic in our financial markets, Jay’s steady and decisive leadership helped to stabilize markets and put our economy on track to a robust recovery. Small business creation is surging, surging in America today, which is why I’m proud to say if you look at my presidency so far, it’s a jobs presidency and it’s a small business presidency. So if you look at the facts, here’s what the record shows: record job creation, record economic growth, record new small business creation. That’s the story that should give us confidence about the economy that we’re building, confidence in ourselves, confidence in the future.