Biden Aide Demurs on Question of Second Fed Term for Powell
- It’s ‘neither yes nor no,’ economic aide Jared Bernstein says
- Decision a ‘process’ White House must conduct before talking
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A senior White House economic aide deflected the question of whether President Joe Biden will offer Federal Reserve Chair Jerome Powell a second four-year term, saying the decision on selecting the next central bank chief will come after a thorough “process.”
“I’m not going to get into that. Neither yes nor no at this point,” Jared Bernstein, a member of Biden’s Council of Economic Advisers, told a Politico event Tuesday in response to question on whether the president should re-nominate Jerome Powell as Fed chair. “It’s a process that hasn’t -- that we have to go through before we even start talking about it,” he said.