Powell to be re-nominated as Fed chair

Powell to return, Brainard to be nominated as vice-chair

Breaking
The White House will nominate Jerome Powell for a second four-year term. Markets had mostly expected this but PredictIt had him priced around 79% just ahead of the announcement.
The second part of the announcement is that Brainard will be nominated as vice-chair. This is a bit of a surprise given that Clarida holds that post. She was expected to be given the vice-chair of supervision role if not the chairman. That spells the end for Clarida.