«The Federal Reserve plays a primary role in fighting inflation,» President Biden said in his statement on Powell’s confirmation.
The Senate confirmed Federal Reserve Chair to a second term with a strong bipartisan vote of 80-19 Thursday, following the confirmation of other Fed board nominees. Powell’s confirmation comes as roaring inflation is damaging Americans’ bank accounts. President Biden, who called inflation his primary domestic concern earlier this week, pointed to inflation in his statement praising Powell’s confirmation.
«I have made it clear that tackling inflation is my top domestic priority», Mr. Biden said. «So I am pleased to see the Senate take a step forward on my agenda to get inflation under control by confirming my nominees to the Fed.
