US Senate confirms Jerome H Powell as Chairman of Federal Reserve
January 24th, 2018
The United States Senate on January 24, 2018 confirmed the appointment of Jerome H Powell as the Chairman of the Federal Reserve System, the Central banking system of the United State. Powell’s appointment was approved by the Senate by vote of 85 to 12, as he was supported by a majority of Democrats and nearly all republicans. Powell was nominated for the post in November 2017 by President Donald trump. Powell will replace Janet Yellen, whose term will end in February 2018. Yellen was appointed by President Obama in 2014 and has been the first woman to hold the position.