Marketplace®

Daily business news and economic stories
Episode 565Nov 23, 2021

Why Biden picked Powell

A lesson in choosing battles.

Download
Federal Reserve Board Chair Jerome Powell (R) speaks as President Joe Biden (L) listens during an announcement at the South Court Auditorium of Eisenhower Executive Office Building on November 22, 2021 in Washington, DC.
Federal Reserve Board Chair Jerome Powell (R) speaks as President Joe Biden (L) listens during an announcement at the South Court Auditorium of Eisenhower Executive Office Building on November 22, 2021 in Washington, DC.
Alex Wong via Getty Images

Subscribe:

President Joe Biden says he wants to reappoint Jerome Powell to serve as chair of the Federal Reserve for a second term. It’s a big deal, but it wasn’t unexpected. We’ll explain the political calculus behind the decision. Plus, we’ll highlight a few long reads you may have missed over the weekend, including one about how China is winning the clean energy contest. And a “Turducken”-inspired Thanksgiving dessert, plus we ask listeners to share their version of a “Turducken” Thanksgiving cocktail.

Here’s everything we talked about today:

Read the transcript here.

Tomorrow, we’re doing a deep dive into the Federal Reserve. If you have a question about the central bank and how it works, send a voice memo or give us a call at 508-82-SMART (508-827-6278).

The Team