Wall Street Journal: Democrats push Biden to replace Fed chairman, potentially increasing spending on digital banks

According to the August 14 news, some Democrats are pushing for US President Biden to appoint someone who could strengthen fiscal oversight to replace Fed Chairman Powell. until February of next year. The Wall Street Journal believes that Powell's re-election is the safest option, according to people familiar with the matter, as Biden members of the business community generally support Powell's re-election, but Democrats are against it. He is most likely to be re-elected. He was replaced by the chairman of the Fed Brainard. Although Brainard has called on the Fed to actively review its bank accounts in recent months, Powell said he has yet to confirm the risks of numerical gains as the outcome. (The Wall Street Journal)