Pres. Biden to Renominate Fed Chair Powell: What a Second Term Could Mean for the Markets, the Economy and Investors

Carl Quintanilla, Jim Cramer and David Faber began the week with breaking news out of Washington: President Biden will nominate Jerome Powell for a second term as Fed Chair and name Fed Governor Lael Brainard to serve as Fed Vice Chair. The anchors engaged in a wide-ranging discussion about a Powell second term and what it could mean for investors. The S&P 500 hit a new record high on the Powell news. Also in focus: Goldman Sachs' year-end 2022 S&P target of 5100, COVID news from lockdowns in Europe to vaccine booster shots in the U.S., what Nvidia CEO Jensen Huang told CNBC about the metaverse, Ford and Rivian scrap plans to jointly develop an electric vehicle, and Activision Blizzard CEO Bobby Kotick under fire: What he reportedly told senior managers about his future at the company.