Economic news

Senate Committee approves Jerome Powell to be next Fed's chairman

The Senate Banking Committee voted 22-1 on Tuesday to appoint Jerome Powell as a new Federal Reserve Governor. Such unanimity shows that Mr. Powell should get support directly from the Senate without any problems.

Announcing the nomination of Jerome Powell, Mr. Trump said that the US economy is "getting better every week."

According to Trump, to support this progress, "a strong monetary policy and reasonable supervision over our banking system" and "a solid, strong, stable chairman of the Federal Reserve", as Mr. Powell is, are required.

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