Biden has not yet weighed in on Fed personnel decisions and his decision is not expected until fall, the people said.Brainard is also a contender for the Fed chair position, but her elevation to vice chair for supervision, replacing Randal Quarles, could soothe progressive Democrats who have raised concerns about Powell’s record on regulation.
Brainard has staked out a different approach toward financial regulation and the adoption of a central bank digital currency.
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