President-elect Joe Biden could reshape the Federal Reserve over the coming years through personnel appointments and fiscal policies, though his administration is unlikely to have any immediate effect on the central banks interest-rate policy.
Chief among those decisions is selecting the next Fed chair, one of the most powerful economic policy makers in the world. Mr. Biden will decide whether to offer the current leader, Jerome Powell, a second term or pick a successor to steer the central banks policies on rates, credit and financial regulation.
That call is a ways off, since Mr. Powells four-year term as chairman runs to February 2022.
Until then, Mr. Powell is likely to enjoy a more civil and less antagonistic relationship with Mr. Biden than he did with President Trump.
Home>>Fashion>>Personnel moves and spending decisions could reshape the central bank, but near-term policy changes aren’t likely
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