Senate votes Powell as next Fed chair

US Senate has approved Jerome Powell as the next chair of the Federal Reserve. Powell is to succeed Janet Yellen, whose term ends on February 3rd. The confirmation was made by majority vote on Tuesday.

Powell was an undersecretary of the Treasury Department in the former Republican Bush administration, and later moved to the private sector.

He became a Federal Reserve governor in 2012. President Donald Trump nominated him for the next Fed post last November.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s