Fed Chair Jerome Powell has been nominated for a second term. Here’s what that means for investors

U.S. Federal Reserve Chairman Jerome Powell speaks to reporters after the Federal Reserve cut interest rates in an emergency move designed to shield the world’s largest economy from the impact of the coronavirus, during a news conference in Washington, March 3, 2020.

Kevin Lamarque | Reuters

Stocks rose as bank shares rallied and bonds sold off after Jerome Powell was renominated as chairman of the Federal Reserve.

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