US President Biden is expected to announce his Federal Reserve System Chair decision ahead of US Thanksgiving (in the last week of November).
The Washington Post has an article up on Lael Brainard's prospects:
- Brainard's supporters say her career as an economist and policymaker over three decades is a good match for Biden's economic agenda.
- Since joining the Fed in 2014, she has been the leading voice for tighter oversight of Wall Street, opposing policies that loosen regulations put in place after the Great Recession.
- She has warned about how climate change can hinder economic activity and how big banks' exposure to climate-related risks could threaten the broader financial system.
- She is also the only Democrat on the Fed board. Powell is a Republican.
The latest betting I have seen puts Powell well ahead, but its a two-horse race so its probably not wise to dismiss Brainard's chances.
