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Senate confirms Powell as chairman of Federal Reserve

Joe Mont | January 24, 2018

A Senate vote his week confirmed Federal Reserve Governor Jerome Powell’s nomination to serve as the next chairman of the central bank.

He replaces outgoing Fed Chairman Janey Yellen upon her departure, scheduled for Feb. 3. Despite a smattering of opposition spread between both parties, Powell was confirmed by an 84-13 vote on Tuesday evening.

Jerome H. Powell took office as a member of the Board of Governors of the Federal Reserve System on May 25, 2012, to fill an unexpired term. He was reappointed and sworn in on June 16, 2014, for a term ending Jan. 31, 2028.

Prior to his appointment to the Board, Powell was a visiting scholar at the Bipartisan Policy Center in Washington, D.C., where he focused on federal and state fiscal issues. From 1997 through 2005, he was a partner at The Carlyle Group.

Powell served as an Assistant Secretary and as Undersecretary of the Treasury under President George H.W. Bush, with responsibility for policy on financial...

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