Reuters

Biden pick for Fed chair expected soon, Yellen says

U.S. Treasury Secretary Janet Yellen said President Joe Biden should pick an “experienced and credible” person as Federal Reserve chair to reassure markets, and while current chair Jerome Powell fit the bill, others would too. Powell, a Republican placed in the job by former President Donald Trump, is widely favored to win reappointment to another term, and some economists and investors have fretted that financial markets could see turbulence if Biden picks another candidate.

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