Senate Confirms Jerome Powell as Next Fed Chair - FbiCables Network | The News that Shapes World Opinion

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Wednesday, January 24, 2018

Senate Confirms Jerome Powell as Next Fed Chair

FILE – In this Tuesday, Nov. 28, 2017, file photo, Jerome Powell, President Donald Trump’s nominee for chairman of the Federal Reserve, testifies during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington. On Wednesday, Jan. 17, 2018, the Senate Banking Committee voted for a second time to approve Powell to be the next chairman of the Federal Reserve. (AP Photo/Carolyn Kaster, File)


Jerome Powell is now confirmed by the Senate as the next Fed Chair in a 84-to-13 vote on Tuesday.
Powell is a current member of the Federal Reserve System’s Board of Governors and is a former private equity investor and Treasury official.
President Trump called Powell’s nomination an important milestone for the American people.
Powell will replace outgoing Fed Chair Janet Yellen next month.
He will reportedly stick with Yellen’s cautious and gradual approach to raising interest rates.

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