Senate Confirms Powell as Federal Reserve Chair
America’s central bank now has a new head honcho. On Tuesday, the United States Senate approved President Trump's nominee, Jerome Powell, as the new chair of Federal Reserve Bank by an overwhelming 84-13 margin. Powell, who is the current Federal Reserve Board Governor, will be taking the place of Obama nominee Janet Yellen. While there are some concerns that Powell will be the first Federal Reserve chair in 40 years without an advanced degree in economics, he has drawn praise from Republicans and Democrats as a “thoughtful policymaker”, and is expected to continue the same policies of the outgoing Chair Yellen.
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