Breaking: Money Printer Go BRRR As Fed Chair Jerome Powell Nominated For Second Term
Jerome Powell nominated: the acting fed chair is perhaps best known to the cryptosphere as the, “Money printer go BRRR,” guy.
Jerome Powell has been nominated for a second term to lead the Federal Reserve.
?ullish for #Bitcoin pic.twitter.com/w7A4dlh2Pd
— Bitcoin Archive (@BTC_Archive) November 22, 2021
President-elect Joe Biden announced today that he is renominating acting Fed Chair Jerome Powell. This will be Powell’s second term as Fed Chair.
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- The term is for another four years. Powell’s current term was set to expire in February. The acting Fed Chair will now serve under the Democrats after having already served under the most recent Republican administration.
- “America needs steady, independent, and effective leadership at the Federal Reserve. That’s why I will nominate Jerome Powell for a second term…” Biden announced via Twitter.
- Biden faced opposition regarding the nomination from various sects of his party, but ultimately decided to keep the status quo. Powell was at the helm of the Federal Reserve during the heights of pandemic-related shutdowns.
- Under Powell’s stewardship, the stock market continued to grow at record rates (see: “Money Printer Go BRRR” meme), but it could be argued that so did the crypto market.
- Though he’s been largely critical of the cryptocurrency movement publicly, most recently, Powell stated that he had no intention to follow fellow world superpower China in banning digital assets.
- Anthony Pompliano, a.k.a. Pomp had this to say regarding Powell’s renomination:
“Buckle up.”
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Text source: CryptosRus
