Powell is the Federal Reserve Chairman.
Kevin Lamarque.
The US stock market jumped after President Biden nominated Powell for a second term as Fed chairman.
The White House said that Chair Powell has provided steady leadership.
Biden nominated Brainard to be the vice chair of the Federal Reserve.
US stocks moved higher on Monday after President Joe Biden nominated Powell for a second term as chairman of the Federal Reserve.
Powell's term as Fed chair was set to end in February 2022. The investors were unsure if Biden would choose a more progressive candidate or not.
The White House said that Chair Powell has provided steady leadership during an unprecedentedly challenging period, including the biggest economic downturn in modern history and attacks on the independence of the Federal Reserve. Biden nominated Brainard to be the Federal Reserve's vice chair.
The US indexes stood at 9:30 a.m. The hours are open on Monday.
The space company's shares jumped as much as 36% on Monday after it reached its destination with its rocket. The launch was celebrated by Musk on his verified account.
An ongoing rally in the coin means it's neck-and- neck with dogecoin to become the 10th most valuable coin by market cap. The alternative coin has risen more than 50% since it was announced.
Even though ConstitutionDAO lost out on its bid to buy a rare copy of the US Constitution, the group is looking at another project to invest some of the tens of millions of dollars raised by the group.
The price of West Texas Intermediate crude oil fell as much as 0.82%. The price of oil fell as much as 0.80%.
The price of gold fell as much as 1.71%.
Business Insider has an original article.
