How Jerome Powell as Fed Chair Will Affect Crypto, Hot Housing and Inflation
Wall Street loves Powell for helping lift the stock market up from its pandemic lows. But will he continue to keep rates low and credit cheap?
WATCH: Powell says the economy is expanding at its fastest pace in many years and the Fed will use its tools to keep inflation from becoming entrenched.
Source: Bloomberg
The man who helped rescue the U.S. stock market from the pandemic’s chaos is headed for another four years in office.
News that U.S. President Joe Biden selected Jerome Powell to serve another term as U.S. Federal Reserve Chair was met with relief across Wall Street. During the tumultuous previous two years, the Fed’s decisions to cut interest rates and its measures to support the economy helped the U.S. avoid a prolonged recession, earning Powell praise from both professional and amateur investors.