US President Biden announces pick for FDIC chair
Martin Gruenberg was the FDIC’s acting chair while the agency issued cease-and-desist orders to crypto firms and suggested that payment stablecoins merited further consideration. United States President Joe Biden announced he would be nominating Federal Deposit Insurance Corporation (FDIC) Acting Chair Martin Gruenberg to assume the position as part of a five-year term.In a Nov. 14 announcement, President Biden said he intended to nominate Gruenberg, who has previously served as acting FDIC chair from 2005 to 2006, 2011 to 2012, and from February 2022 to the present. Gruenberg assumed the....
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The vice chair for supervision seat at the Federal Reserve has been vacant since governor Randal Quarles’ term ended in October 2021. Following the withdrawal of former Federal Reserve Board governor Sarah Bloom Raskin, United States President Joe Biden has announced his intention to nominate former Obama administration official and law professor Michael Barr as the central bank’s vice chair for supervision.In a Friday announcement, the White House said Barr was Biden’s pick to supervise the Federal Reserve and set the regulatory agenda for its leadership. Barr was on the advisory board of....
Gary Gensler, President Joe Biden’s pick to lead the U.S. Securities and Exchange Commission (SEC), has revealed his policies on bitcoin and other cryptocurrencies if confirmed as the SEC chairman. Gensler is a professor at MIT who teaches cryptocurrencies. He previously served as the chairman of the Commodity Futures Trading Commission (CFTC). SEC Chair Nominee Gary Gensler Talks About Bitcoin Regulation Professor Gary Gensler has spoken about what his focus will be regarding bitcoin and other cryptocurrencies if he is confirmed as chairman of the SEC. His statements were made....
During his time as Fed chair, Powell has said the agency was “working proactively to issue a CBDC” but was unlikely to support a blanket ban on crypto. President Joe Biden has tapped Jerome Powell to serve another four-year term as the chair of the Federal Reserve System’s Board of Governors.In a Monday announcement, the White House announced President Biden will be nominating Powell as his pick to lead the Federal Reserve once his current term ends in February. The executive branch cited Powell’s “decisive action” in lessening the economic impact brought on by the pandemic as well as the....
Gensler's confirmation comes almost three months after President Joe Biden first announced he was his pick for the SEC. Voting mostly along party lines, the U.S. Senate confirmed the nomination of Gary Gensler to chair the Securities and Exchange Commission, or SEC.In a vote of 53-45 today, the Senate members confirmed the former chair of the Commodity Futures Trading Commission, or CFTC, to lead the Securities and Exchange Commission. Gensler, a professor at the MIT Sloan School of Management, volunteered to join then President-elect Joe Biden’s team as a financial expert in November.....
U.S. president Joe Biden revealed his intent on Monday to re-nominate Jerome Powell as the Federal Reserve chairperson. Major indices and stocks gained on the news that Powell will get a second term as the head of the central bank.
Biden Chooses to Renominate Fed Chair Jerome Powell
On Monday, president Joe Biden revealed that he has chosen Jerome Powell to lead the U.S. Federal Reserve for another term. Powell will serve as the chairperson during his second term, while Lael Brainard will serve as the Fed’s vice chair. Powell’s renomination follows the uncertainty....