Fed’s Bostic: Powell, Brainard appointments remove uncertainty for Fed

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FILE PHOTO: President and Chief Executive Officer of the Federal Reserve Bank of Atlanta Raphael W. Bostic speaks at a European Financial Forum event in Dublin

(Reuters) – Atlanta Federal Reserve President Raphael Bostic said on Monday President Joe Biden’s decision to nominate Jerome Powell for a second term as Fed chair removes uncertainty for policymakers and is a “helpful” development as they approach some critical decisions.

“This decision really does take some uncertainty out of the Federal Reserve as an issue, and I think that’s helpful for all of us,” Bostic said in an interview on Bloomberg Television. He added that Biden had made a “fine choice” in renominating Powell as well as nominating Governor Lael Brainard to be Fed vice chair, the central bank’s No. 2 leadership role.

(Reporting By Dan Burns; Editing by Sonya Hepinstall)

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