Senate confirms President Trump’s pick for Federal Reserve chairBaltimore Post-Examiner

Senate confirms President Trump’s pick for Federal Reserve chair

WASHINGTON- The Senate on Tuesday evening confirmed President Donald Trump’s pick for Federal Reserve chair, Jerome Powell.

The upper chamber approved the nomination in a 84-13 vote.

The confirmation vote was by preceded a cloture vote to break a filibuster over the nomination.

Powell has a been a member of the Federal Reserve Board of Governors since May 2012. He served as Under Secretary of the Treasury for Domestic Finance in the administration of President George H.W. Bush.

Powell’s private sector experience includes eight years as a partner at the Carlyle Group, an elite private equity firm.

Powell is a proponent of financial deregulation but has suggested he supports many of the provisions codified in the Dodd-Frank Wall Street Consumer Protection Act of 2010.

The law was implemented in response to the 2008 global financial crisis.

Powell will succeed Federal Reserve chair Janet Yellen next month when her term expires.

This article is republished with permission from Talk Media News 


About the author

Bryan Renbaum

Bryan is a reporter and political columnist with Baltimore Post-Examiner and has broken multiple stories involving athletic scandals. He has been interviewed by ABC's Good Morning America as well as Baltimore area radio stations. Bryan has both covered and worked in the Maryland General Assembly and is extremely knowledgeable of politics, voting patterns and American history. In addition to his regular duties, Bryan freelances for several publications and performs investigative research. He has a B.A. in Political Science. Contact the author.
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