[CNBC Television] Two experts break down markets’ reaction to inflation, Jerome Powell’s Fed renomination

🎯 Загружено автоматически через бота: 🚫 Оригинал видео: 📺 Данное видео принадлежит каналу «CNBC Television» (@CNBCtelevision). Оно представлено в нашем сообществе исключительно в информационных, научных, образовательных или культурных целях. Наше сообщество не утверждает никаких прав на данное видео. Пожалуйста, поддержите автора, посетив его оригинальный канал. ✉️ Если у вас есть претензии к авторским правам на данное видео, пожалуйста, свяжитесь с нами по почте support@, и мы немедленно удалим его. 📃 Оригинальное описание: Kari Firestone, chairman and CEO of Aureus Asset Management, and Gunjan Banerji, Wall Street Journal markets and investing reporter, join ’Squawk Box’ to discuss markets ahead of the open Tuesday. For access to live and exclusive video from CNBC subscribe to CNBC PRO: Jerome Powell, who guided the Federal Reserve and the nation’s economy through the staggering and sudden Covid-19 recession by implementing unprecedented monetary stimulus, is being nominated for a second term as chairman of the U.S. central bank. President Joe Biden made the announcement Monday morning following weeks of speculation that a push from progressives might see Fed Governor Lael Brainard get the spot. Acknowledging the political pressure he faced to nominate a more progressive Democrat than the Republican Powell, Biden said Monday afternoon he settled on Powell because the current economic circumstances present “enormous potential and enormous uncertainty” and require “stability and independence.” Brainard was designated as vice chair of the board of governors; she had been widely expected to get a separate vice chair for supervision post, which oversees the nation’s banking system. As vice chair for monetary policy, she would succeed Richard Clarida, whose term expires Jan. 31, 2022, and will oversee a wider swath of policy decisions. “As I’ve said before, we can’t just return to where we were before the pandemic, we need to build our economy back better, and I’m confident that Chair Powell and Dr. Brainard’s focus on keeping inflation low, prices stable, and delivering full employment will make our economy stronger than ever before,” Biden said in an earlier statement. The nominations next head to the Senate for confirmation. In making the decision, Biden praised the Powell Fed for its “decisive” action in the early days of the pandemic. The Fed rolled out an unprecedented array of lending programs while also cutting interest rates back to near zero and instituting a monthly bond-buying program that would increase the central bank’s holdings of Treasurys and mortgage-backed securities by more than $4 trillion. “Chair Powell has provided steady leadership during an unprecedently challenging period, including the biggest economic downturn in modern history and attacks on the independence of the Federal Reserve,” a White House statement said. “During that time, Lael Brainard – one of our country’s leading macroeconomists – has played a key leadership role at the Federal Reserve, working with Powell to help power our country’s robust economic recovery.” The announcement coincided with a boost to the stock market while government bond yields were higher across the board. Markets are watching closely the pace the Fed will follow as it unwinds its massive policy support. Officials already have indicated they will start paring back the bond purchases, with reductions of some $15 billion per month that would see the program likely conclude in late spring or early summer 2022. Interest rate hikes are another matter. Most Fed officials thus far have said they won’t consider raising rates at least until the bond buying taper winds down. However, markets have been looking for a faster timeline for rates, with the initial hike now priced in for June 2022. “The president chose the status quo for monetary policy and financial regulation,” said Mark Zandi, chief economist at Moody’s Analytics. “The Fed’s going to slowly but steadily take its foot off the monetary accelerator.” Treasury Secretary Janet Yellen, who also was Powell’s immediate predecessor at the Fed’s helm, lauded Powell for the way he handled the job in the face of the pandemic crisis, which brought the U.S. not only its steepest but also its shortest recession. » Subscribe to CNBC TV: » Subscribe to CNBC: » Subscribe to CNBC Classic: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. The News with Shepard Smith is CNBC’s daily news podcast providing deep, non-partisan coverage and perspective on the day’s most important stories. Available to listen by 8:30pm ET / 5:30pm PT daily beginning September 30: