Some Senate Democrats are urging President Biden to reappoint Federal Reserve Chairman Jerome Powell for a second term, suggesting that replacing him could erode the independence of the institution. Why it matters: Public support from centrist Democrats has the potential to cinch reappointment for a figure credited with helping the country navigate the huge economic hit of the coronavirus pandemic. Powell's just completing what some termed a summer audition. • “I like Powell; I think he's a good guy. I think he deserves another term,” Sen. Jon Tester (D-Mont.), a member of the Senate Banking Committee, told Axios. • ... (full story)