Jerome Powell To Stay On As Federal Reserve Chair

Biden announced his decision to nominate Powell for a second term as Federal Reserve Chair, citing his leadership during the pandemic recession. Powell maintained low interest rates, which Biden claims helped boost confidence and the job market. However, Powell has faced criticism for not addressing inflation quickly enough.

Who announced the nomination of Powell for a second term as Reserve Chair?

• Donald Trump

• Joe Biden

• Janet Yellen

• Kamala Harris

What was one of the reasons Biden supported Powell's leadership during the pandemic?

• He implemented ultra low rate policies.

• He reduced taxes significantly.

• He introduced new trade tariffs.

• He increased government spending.

What effect did Biden claim Powell's policies had on the job market?

• They led to job losses.

• They revitalized the job market.

• They caused a recession.

• They had no effect.

What criticism has Powell faced from economists recently?

• Raising interest rates too quickly.

• Not recognizing high inflation soon enough.

• Implementing too many regulations.

• Reducing the money supply.

What was Powell criticized for not doing fast enough?

• Lowering taxes

• Raising interest rates

• Increasing government spending

• Reducing inflation