Photo: AP.
US President Joe Biden has announced that he has nominated Jerome Powell for a second term to head the Federal Reserve.
At the same time, as the left-wing Democrats have criticized the president for doing so, because Powell is a Republican, so far nominated as Donald Trump, Biden explained his decision.
“We need stability and independence in the Federal Reserve,” Biden said, adding that Powell had demonstrated independence.
p>
“During previous administrations, he resisted unprecedented political intervention and thus successfully preserved the integrity and authority of this institution,” said the American leader.