"The president continues to engage with his senior economic
team," Deputy White House Press Secretary Chris Meagher told
reporters aboard Air Force One.
The president has been weighing whether to keep current Fed
Chair Jerome Powell for a second term or promote Fed Governor
Lael Brainard to the post, a Biden administration official said
last week.
Whoever he selects - Powell, a Republican elevated to the role
by then-President Donald Trump, or Brainard, a Democrat and Ph.d.
economist on the Fed board since 2014 - the next Fed chief will
face tough decisions on how to handle supply bottlenecks,
whether to raise interest rates and how to address inflation.
Asked about his timeline for a decision on Tuesday, Biden told
reporters: "As my grandfather would say, with the grace of God
and the goodwill of the neighbors, you're gonna hear that in
about four days."
(Reporting by Jeff Mason; Writing by Katharine Jackson; Editing
by Tim Ahmann)
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