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Biden seeks to keep Powell in place, elevate Brainard at Federal Reserve

Nov 22, 2021
Brainard will be nominated for vice chair. The two officials typically agree on monetary policy but sometimes diverge on regulation.
President Joe Biden names Jerome Powell, left, as his nominee for Federal Reserve chair and Lael Brainard, right, as vice chair.
Jim Watson/AFP via Getty Images

What does the Federal Reserve board of governors do, besides voting on interest rates?

Oct 15, 2021
There are seven members of the board of governors. Usually.
Randal Quarles, a member of the Federal Reserve board of governors, was vice chair for supervision at the central bank until this week. The Fed said that position would go unfilled.
Lintao Zhang via Getty Images