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
Bryan is an award-winning political journalist who has extensive experience covering Congress and Maryland state government.
His work includes coverage of the election of Donald Trump, the confirmation hearings of Supreme Court Justice Brett Kavanaugh and attorneys general William Barr and Jeff Sessions-as well as that of the Maryland General Assembly, Gov. Larry Hogan, and the COVID-19 pandemic.
Bryan has broken stories involving athletic and sexual assault scandals with the Baltimore Post-Examiner.
His original UMBC investigation gained international attention, was featured in People Magazine and he was interviewed by ABC’s “Good Morning America” and local radio stations. Bryan broke subsequent stories documenting UMBC’s omission of a sexual assault on their daily crime log and a federal investigation related to the university’s handling of an alleged sexual assault.