The top-ranking Republican on the Senate Banking Committee and several GOP colleagues backed President Biden’s planned nomination of Jerome Powell for a second term as Federal Reserve chairman, paving the way for his confirmation despite some opposition
WASHINGTON—The top-ranking Republican on the Senate Banking Committee and several GOP colleagues backed President Biden’s planned nomination of Jerome Powell for, paving the way for his confirmation despite some Democratic opposition.
Sen. Pat Toomey praised Mr. Powell for his actions during the Covid-19 pandemic to help stabilize financial markets and the economy, while raising concerns about monetary policy and recent price-level increases. The senator said Mr. Powell’s recent comments gave him “confidence that he was willing to act to address persistent inflation.”
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