People: US Senate confirms Powell as new Fed chair

Jerome Powell
Bipartisan Policy Center

US: The US Senate confirmed Jerome Powell as the sixteenth chair of the Board of Governors of the Federal Reserve System on January 23.

Powell obtained the support of 84 senators, while 13 voted against his confirmation.

The incoming chair is not expected to take the reins at the US central bank until February, when the four-year term of his predecessor, Janet Yellen, is due to finish.

The outgoing chair has said she intends to leave the board after Powell is sworn in. Yellen’s 14-year term

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