Powell's re-election as Federal Reserve chair 'a relief for investors'

Joe Biden's decision widely welcomed

clock • 3 min read
Powell's re-election as Fed chair puts end to uncertainty
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Powell's re-election as Fed chair puts end to uncertainty

US president Joe Biden’s decision to re-elect Jerome Powell as chair of the US Federal Reserve – putting to an end to uncertainty and speculation of the Bank’s future – has been welcomed as a “relief” by the investment industry.

Commenting on the market reaction to Powell's nomination for a second term as Fed chair, Olivier Konzeoue, FX sales trader at Saxo Markets, said: "It seems continuity prevailed as President Biden named...

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