London Daily

Focus on the big picture.
Tuesday, Jul 29, 2025

Jerome Powell Likely To Remain As Head of Federal Reserve, According to Sources

Jerome Powell Likely To Remain As Head of Federal Reserve, According to Sources

Biden administration is likely to allow Federal Reserve chairman Jerome Powell to continue as the central bank’s lead, according to anonymous sources familiar with the matter. This after three U.S. representatives asked Biden to replace Powell with a central bank leader that addresses equality and climate change.

According to a report by Greg Robb in Market Watch U.S. president Joe Biden and his administration will likely keep Jerome Powell as the chair of the central bank. The sources stem from “analysts who keep tabs on Washington for Wall Street” and they are “now fairly certain about his renomination.”

Jerome Powell, the Federal Reserve’s chairman, has been leading the central bank throughout a period of time when the Fed has expanded the monetary supply like never before in history. Many complaints have been directed at Jerome Powell and the Federal Reserve’s schemes.

Stephen Myrow, managing partner of Beacon Policy Advisors said:

“My base case is Powell now. That’s the consensus.”

Managing director for the U.S. for Eurasia Group, Joe Lieber, agrees:

“I think it is a high probability they renominate Powell.”

The Biden administration, however, may be getting complaints about Powell from members of the Democrat party.

Three specific U.S. representatives (Alexandria Ocasio-Cortez (AOC), Rashida Tlaib, and Ayanna Pressley) want Powell to address other issues besides just Covid-19.

Forward-spoken AOC criticized Powell on ignoring environmental factors saying:

“Under his leadership, the Federal Reserve has taken very little action to mitigate the risk climate change poses to our financial system.”

The three U.S. representatives want someone who will expand the monetary system to address things like equality and so-called climate change.

Myrow commented:

“[Biden now] has too much on his plate.”

Leiber explained that it will be “good politics” to choose Powell again:

“It is a slam-dunk in terms of market reaction and a slam-dunk in terms of the Senate — Powell will get 80 votes”

According to last month’s Survey of Consumer Expectations (SCE), many American households are concerned about rising inflation. The central bank’s metrics from the report published this week indicate that SCE respondents envision one-year inflation to jump to 5.2% and three-year expectations will be around 4%.

It is likely that Biden will choose someone who will continue the monetary expansion to meet the administration’s ends. Despite the complaints from a few Democrats, Powell has shown he is willing to expand the U.S. monetary supply, suppress interest rates, and keep quantitative easing (QE) going strong. Every Federal Reserve chair ever chosen to lead throughout history has been ever so willing to expand the Fed’s powers.

Source: Jerome Powell Likely To Remain As Head of Federal Reserve, Sources Say – Fintechs.fi

Newsletter

Related Articles

0:00
0:00
Close
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
Thai Civilian Death Toll Rises to 12 in Cambodian Cross-Border Attacks
TSUNAMI: Trump Just Crossed the Rubicon—And There’s No Turning Back
Over 120 Criminal Cases Dismissed in Boston Amid Public Defender Shortage
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
×