Marketplace
Marketplace
Nov 22, 2021
What Jerome Powell’s renomination means for Fed policy
Play • 27 min

President Joe Biden announced today that he will nominate Jerome Powell for a second term as Federal Reserve chair. Progressive Democrats were hoping Biden would nominate board member Lael Brainard, whom he instead picked for vice chair. The decision indicates a “business as usual” stance amid the economic recovery and spiking inflation. Also: We examine why Target’s nearly 2,000 stores will no longer stay open on Thanksgiving Day, unpack the Deere strike and its impact on farmers and look at businesses filling the void in China’s mental health care sector.

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