Federal Reserve Chairman Jerome Powell was seen visiting the White House on Thursday, according to people familiar with the matter.
Powell’s term leading the central bank is set to expire next February. President Joe Biden told reporters on Tuesday that he would announce decisions “fairly quickly” on whether he was offering Powell another term or tapping someone else to succeed him.
In interviews this week, Treasury Secretary Janet Yellen has lauded Powell’s record. “I think that Chair Powell has certainly done a good job,” she said in comments published by CNBC on Monday. “He responded very admirably to the crisis that we saw after the pandemic, and he’s established with his colleagues a new framework that is very focused on achieving full employment.”
Presidents have typically announced their Fed chair nominee in October or by early November to give the Senate sufficient time to confirm their pick. For example, then-President Donald Trump announced Powell to succeed Yellen on Nov. 2, 2017.
An expanded version of this report appears on WSJ.com.
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