Biden Goes With Safe Fed Pick Over Nod To Progressives In Face Of Inflation Threat

WASHINGTON ― President Joe Biden on Monday cited the need for stability and bipartisan appeal amid persisting inflation and a not-yet-vanquished pandemic as reasons for giving Federal Reserve Chair Jerome Powell a second term, rejecting calls from progressives for someone more in line with their politics.

“Some will no doubt question why I’m renominating Jay, when he was the choice of a Republican predecessor. Why am I not picking a Democrat? Why am I not picking fresh blood, or taking…

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