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Biden to keep Powell as Fed chair, Brainard gets vice chair

Federal Reserve Chairman Jerome Powell speaks after President Joe Biden announced Powell's nomination for a second four-year term as Federal Reserve chair, during an event in the South Court Auditorium on the White House complex in Washington, Monday, Nov. 22, 2021. Biden also nominated Lael Brainard as vice chair, the No. 2 slot at the Federal Reserve. (AP Photo/Susan Walsh) Lael Brainard, right, President Joe Biden's nominee to be Vice Chair of the Federal Reserve, speaks during an event in the South Court Auditorium on the White House complex in Washington, Monday, Nov. 22, 2021. Biden, left, also nominated Jerome Powell for a second four-year term as Federal Reserve chair. (AP Photo/Susan Walsh)