Powell’s odds for 2nd term boosted by Yellen’s backing

U.S. Treasury Secretary Janet Yellen has told senior White House advisers that she supports reappointing Jerome Powell as Federal Reserve chair.

A Bloomberg report, which cites people familiar with the matter, suggests the recommendation could greatly increase his chance for a second term.

Powell’s four-year term ends in February, and those familiar with the deliberations say White House officials have been casting a wide net for possible candidates.

Read more from Reuters.