Susan Walsh, The Associated Press

Federal Reserve Chairman Jerome Powell speaks after President Joe Biden announced Powell’s nomination for a second four-year term as Federal Reserve chair, during an event in the South Court Auditorium on the White House complex in Washington, Monday, Nov. 22, 2021. Biden also nominated Lael Brainard as vice chair, the No. 2 slot at the Federal Reserve.

By Christopher S. Rugaber | The Associated Press

PUBLISHED: November 22, 2021 at 5:26 p.m. | UPDATED: November 22, 2021 at 5:57 p.m.

Biden to keep Powell as Fed chair, Brainard gets vice chair

Next year, the Fed is widely expected to begin raising its benchmark interest rate, with financial markets pricing in at least two increases