Economist Lisa Cook has the backing of several key White House officials and allies outside the administration as a possible choice for President Joe Biden in filling a vacancy on the Federal Reserve Board of Governors, according to people familiar with the matter.
Asked about the political uncertainty surrounding the undecided presidential race, Federal Reserve Chair Jerome Powell said the central bank isn’t wavering from its duty “to support the economy during this difficult time.”
The U.S. economy continued to grow across the country as it recovered from the coronavirus pandemic, but the picture was uneven, according to a new report from the Federal Reserve.
With only a fraction of the funds allocated being used, Federal Reserve Chair Jerome Powell said the central bank is considering tweaks to the middle-market rescue program in an appeal to lenders wary of taking on added risk.
