Trump's choice Jerome Powell approved as Federal Reserve head

From BBC - January 23, 2018

Donald Trump's choice for the next head of the US central bank - the world's most powerful economics job - has been approved by US Senators.

Jerome Powell, a multi-millionaire, was backed in a 84-13 vote as chair of the Federal Reserve with support from Republicans and many Democrats.

Mr Powell, who was named in November as Mr Trump's nominee, is a Republican and is seen to back low interest rates.

Janet Yellen, the current Fed chair, will see her term expire in February.

Ms Yellen was appointed by President Obama in 2014 and has been the first woman to hold the position.


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