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Brainard Interviewed by Biden for Fed Chair as Search Heats Up

  • Discussion shows that Powell faces serious rival for chair
  • Powell widely seen by economists as Biden’s likely choice
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WATCH: Lael Brainard was interviewed for the Fed’s top job last week when she visited the White House, according to Bloomberg sources.Source: Bloomberg
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Federal Reserve Governor Lael Brainard was interviewed for the top job at the U.S. central bank when she visited the White House last week, according to people familiar with the discussions, signaling that Chair Jerome Powell has a serious rival as President Joe Biden considers who will lead the Fed for the next four years.

Powell and Brainard are the only people who have publicly surfaced as being in the running for chair. Powell’s current term in that post expires in February and Biden said on Nov. 2 that he’d make a decision “fairly quickly.” Bloomberg News has previously reported that Brainard was also under consideration for the position of Fed vice chair for supervision.