Business

Joe Biden nominated Jerome Powell for a second term as chairman of the Federal Reserve. Left-wing Democrats had sought to boot Mr Powell out of the job; Elizabeth Warren, a fiery senator, had described him as “a dangerous man” because of his past support for financial deregulation. Their preferred candidate for the top job at the central bank, Lael Brainard, was promoted to vice-chairwoman. That could produce some differences of opinion on bank regulation and Fed polices focused on climate change; Ms Brainard wants more of both.