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White House Team Weighing Fed Sees No Issue With Powell Trades

  • Some Brainard advocates have questioned a stock fund sale
  • Biden decision expected soon on Powell or Brainard for chair
Bloomberg business news
Markets Indicate Biden Will Keep Powell, Ferguson Says

Top White House officials don’t believe that Federal Reserve Chair Jerome Powell’s sale of shares in a stock index fund last year disqualifies him from being appointed to a second term, according to people familiar with the matter.

Several key officials working on the nomination saw no reason for concern over Powell’s trading, according to people familiar with the deliberations. No one has brought up Powell’s trades in the meetings among a tight circle of advisers on the Fed chair search, two of the people said.