to a second term with a strong bipartisan vote of 80-19 Thursday, following the confirmation of other Fed board nominees.
Powell's confirmation comes as roaring inflation is damaging Americans' bank accounts. President Biden, who called inflation his primary domestic concern earlier this week, pointed to inflation in his statement praising Powell's confirmation. "I have made it clear that tackling inflation is my top domestic priority," Mr. Biden said."So I am pleased to see the Senate take a step forward on my agenda to get inflation under control by confirming my nominees to the Fed. I want to thank the Senate for confirming Jerome Powell, Dr. Lisa Cook, and Dr. Philip Jefferson this week, joining the recent confirmation of Dr. Lael Brainard.
The Federal Reserve, which formulates U.S. monetary policy, plays a key role in setting interest rates. The Fed has already been ramping up interest rates in an effort to stave off record-high inflation. Treasury Secretary Janet Yellen, testifying before Congress earlier this week, said she believes the Federal Reserve can control inflation without causing a recession, pointing to a strong job market and strong household financials, among other things.
🤔
BidenWorstPresidentEver has no clue
What else did he say I missed it
Well, well, well……….😤😤😤😤😤‼️
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