Nov 22 (Reuters) – U.S. Federal Reserve Chair Jerome Powell, 68, renominated by President Joe Biden for a second four-year term as leader of the world’s most powerful central bank, has been on a rollercoaster ride since he joined the institution almost a decade ago. Here are some of the highlights of his time at the Fed:
2012 — APPOINTED AS PART OF AN OBAMA DEAL
Powell, a Republican former Wall Street investment banker and private equity executive, is nominated to the Fed’s Board of Governors by President Barack Obama as part of a deal alongside Jeremy Stein, a Democrat, as a way to break a stalemate over Obama’s appointments in the Republican-controlled Senate.
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2013 — ADVOCATE FOR WITHDRAWING STIMULUS
In his early days at the Fed, Powell argues forcefully for the central bank to start reducing its massive bond purchases undertaken to support the economy’s recovery from the…