A senior White House economic aide demurred on the question of whether President Joe Biden will nominate Federal Reserve Chair Jerome Powell for a second four-year term, saying the decision on selecting the next central bank chief will come after a thorough “process,” Bloomberg reports.

Said adviser Jared Bernstein: “It’s neither yes nor no.”

“Jay Powell signalled that the Federal Reserve was still far away from withdrawing support for the US economy, even after the central bank upgraded its view of the recovery,” the Financial Times reports.

“The stock market is set to close out President Biden’s first 100 days in office on Thursday with its best start to a presidential term since the days of Franklin D. Roosevelt,” the Wall Street Journal reports.

“So far in his young presidency, President Joe Biden has been one of the best friends the stock market has ever had,” CNBC reports.

“Better, in fact, than any president before him going back to at least the 1950s and the Dwight Eisenhower administration, as the 46th chief executive has witnessed an unprecedented growth on Wall Street in his first 100 days in office.”

There’s another Trump prediction that did not come true.

Wall Street Journal: “A thousand years ago, when money meant coins, China invented paper currency. Now the Chinese government is minting cash digitally, in a re-imagination of money that could shake a pillar of American power.”

“It might seem money is already virtual, as credit cards and payment apps such as Apple Pay in the U.S. and WeChat in China eliminate the need for bills or coins. But those are just ways to move money electronically. China is turning legal tender itself into computer code.”

“As Wall Street speculated on the identity of the mysterious seller behind the massive $10.5 billion in block trades executed on Friday by Goldman Sachs, investors also pondered just how unprecedented the selloff was — and whether there’s more to come,” Bloomberg reports.

A new YouGov survey finds nearly 50% of Americans now say the stock market is “rigged against individual investors” and surprisingly 56% of those investing in the stock market believe the market is rigged as well.

“The Fed­eral Re­serve kept its easy-money poli­cies in place and vowed to main­tain them un­til the U.S. econ­omy re­cov­ers fur­ther from the ef­fects of the coro­n­avirus pan­demic, while also high­light-ing the bright­en­ing out­look for growth,” the Wall Street Journal reports.

Politico: “Warren’s expanding network in the upper echelons of the administration includes protégés who helped execute her aggressive oversight of big banks and other corporations as well as friends who share her views of the risks looming on Wall Street. But it goes beyond finance, covering pivotal posts at the Department of Education and even the National Security Council.”

“The Warren recruits mark a victory for the progressive movement, which has supported her years-long ‘personnel is policy’ campaign to chip away at the dominance of corporate insiders in setting policy for Democrats. Those who took on the fight with Warren say they’re pleasantly surprised it has produced so many results under Biden, reflecting a new emphasis on inequality and challenging corporate power. Industry lobbyists, in turn, warn that banks, private equity firms and consumer lenders should pay close attention.”

“Giant bubbles are once again inflating all over the financial world — creating a potential problem for Washington in the coming months. From meme stocks to cryptocurrencies, tech stocks and the rage for ‘Special Purpose Acquisition Companies,’ or SPACs, risks are clearly rising,” Politico reports.

“Wall Street pros and Washington policymakers know that some or all of these bubbles could explode in spectacular ways. But nobody really knows what to do about it… The perfect ‘Goldilocks’ scenario could still arrive: faster economic growth with limited inflation, perhaps gently letting the air out of the biggest bubbles. But darker scenarios exist, including a big spike in inflation, a popping of all of the bubbles at once … and an economic recovery that hits turbulence.”

“President Biden is considering nominating Lisa Cook, an economist at Michigan State University, to fill an open seat on the Federal Reserve Board,” Axios reports.

“The appointment would be historic, since Cook would be the first Black woman to join the Fed.”

New York Times: “From the populist right to the socialist left, the rush by both parties to side with young traders disrupting the markets reflects the broad recognition of the impulses driving American politics.”

A new study finds that members of Congress who own stock tend to vote in ways that benefit their investments and that these decisions can’t be explained away by other factors, such as ideology or constituent interests.

“The Dow Jones Industrial Average jumped past 30000 for the first time Tuesday, the latest milestone in a postelection rally turbocharged by promising results from three potential coronavirus vaccines,” the Wall Street Journal reports.