Lael Brainard spoke with Biden last week.
Granted it is a tweet promoting a segment on Fox Business, but Fox's Charles Garparino is putting the odds of Fed Chair Powell at 50-50.
The Biden administration along with several Democratic representatives have favored Mr. Powell for a second term. However there is also resistance resistance from some progressive Democrats, who want someone who might be more committed toward toughening financial regulation and addressing climate change at the Fed.
Chair Powell is a Republican whereas Brainard is a registered Democrat who worked in the Obama administration
Pres. Biden may announce his decision as early as this week.
Biden has one vacancy yet to be fill on the seven-member board of governors, with two more seats he can fill by January.
Mr. Powell is unlikely to stay on the Fed board if someone succeeds him as chairman. As a result, that would give Biden as many as four seats to fill by February.
Brainard is in line with Chair Powell in seeing inflation is transitory with no need to raise rates until after the taper is complete.
Powell was nominated by Pres. Trump as the Fed Chair.
