President Joe Biden on Monday renominated Jerome Powell to serve as chair of the Federal Reserve. Powell was first appointed to the post by former President Trump in 2018. 

President Joe Biden: “When our country was hemorrhaging jobs last year, and there was panic in our financial markets, Jay’s steady and decisive leadership helped to stabilize markets and put our economy on track to a robust recovery.”

During his tenure, Powell has refused to acknowledge the climate crisis and has a record of weakening Wall Street regulations. Massachusetts Democratic Senator Elizabeth Warren has vowed not to confirm Powell, calling him “a dangerous man to head up the Fed.”