| The much-awaited decision was a return to tradition in which the central bank's top official is reappointed regardless of partisan identity — a norm bucked by former President Donald J. Trump, who appointed Mr. Powell instead of renominating Janet L. Yellen. The stakes in the choice are unusually high. Inflation has picked up sharply this year, with consumer prices increasing at the fastest pace in more than three decades in the year through October. The central bank is tasked with keeping consumer prices stable while striving for maximum employment, and striking that balance could require difficult policy choices in the months ahead. | 
