A centrist Democrat on the Senate Banking Committee said President Biden should nominate Federal Reserve Chairman Jerome Powell to a second term, the latest volley in an intraparty rift over the future leadership of the Fed.
Montana Sen. Jon Tester said in an interview Wednesday that he was concerned by recent calls from progressive House Democrats to replace Mr. Powell with someone who would focus the Fed on advancing liberal political priorities, including climate change. Mr. Tester said he worried doing that would harm the economy by politicizing the central bank.
