Biden advisers weigh Powell as Fed chair, Brainard as vice chair -Bloomberg News

FILE PHOTO: Federal Reserve Chair Jerome Powell testifies on Capitol Hill in Washington

(Reuters) – U.S. President Joe Biden’s advisers are considering recommending Jerome Powell for a second term as Federal Reserve chair with Lael Brainard as chief regulator, Bloomberg News reported on Thursday, citing people familiar with the matter.

Biden is yet to weigh in on Fed personnel decisions and a decision by him is not expected until fall, Bloomberg said

Bloomberg has previously reported that Powell has the backing of Treasury Secretary Janet Yellen to remain as chair.

(Reporting by Bhargav Acharya in Bengaluru; Editing by Tom Hogue)