US Senate confirms Jerome Powell as Federal Reserve Chair
Wednesday, 24/01/2018 21:53 (GMT+7)
On January 23rd, the US Senate approved President Trump's nominee, Mr. Jerome Powell, 65, as the new Chair of the Federal Reserve (Fed).
Mr. Jerome Powell (right) delivered speech in Washington DC. on November 2nd, 2017 (Source: Xinhua/VNA)
The confirmation came in a vote of 85-12. The 12 votes against Mr. Powell included both Democrats and some conservative Republicans.
Mr. Jerome Powell will replace Ms. Janet Yellen, the first woman to head to Fed. He was an under Secretary of the Treasury under former President George H.W. Bush.
Mr. Jerome Powell will be “central to ensuring a safe and sound financial system while supporting a vibrant, growing economy,” Banking Committee Chairman and Idaho Republican Mike Crapo said on the Senate floor.
Mr. Jerome Powell, first nominated to the Fed board by former President Obama in 2012, will take over the leadership of the central bank early next month./.
Compiled by BTA
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