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Gold prices sank $30 on Monday, falling through the key $1835 level broken on last month's 3-decade high in US inflation as President Biden nominated Jerome Powell for a second term as chair of the Federal Reserve
Powell, a Republican, was nominated by former President Trump in 2017.
Powell, a Republican, was nominated by former President Trump in 2017.
In restoring that salt deduction, and then now it looks like democrats are giving a tax cut that will largely go to millionaires. they want to see that benefit perhaps shrunk back down. that could be a bit of a thorny debate, too, when the senate takes this up starting when they get back from their thanksgiving break. >> and, by the way, you also just heard the fed announcement, of course, and the likelihood that jerome powell has more support, bipartisan support than perhaps lael brainard would have had, although elizabeth warren is vowing for opposition. >> i think that's likely. we've alrea...
Bite from president biden on that from today. watch this. >> we need stability and independence at the federal reserve. jay has proven the independence that i value in the fed chair. in the last administration, he stood up to political interference and successfully maintained the credibility of this institution. it's one of the many reasons that jay has support. >> jay pull stays, david. that's part of the explanation from the president. what do you say? >> i say a couple things. the market liked the news. they were worried that brainard, the vice chair, if she's supported by the senate, is no...