Biden Allies Ask Brainard to Stay at Fed, Dimming Treasury Odds
- Brainard seen as favorite for Treasury before election
- Progressives in Democratic Party push for Yellen at Treasury
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Federal Reserve Governor Lael Brainard has been told by allies of President-elect Joe Biden that she should stay at the central bank, according to people familiar with the matter, further dimming odds she’s chosen as the next Treasury secretary.
Brainard is the only Democrat on a Fed board filled mostly by President Donald Trump’s appointments, and she may be a leading candidate for Fed chair when Jerome Powell’s term expires in 2022.