BREAKING: Fed chair Jerome Powell confirmed to second term
skilled at building bridges across partisan lines — as reflected in his appointments to Fed positions by three presidents and his bipartisan Senate confirmation vote.represents continuity in the leadership of the central bank, this is also a time of many new faces at the top ranks of the Fed.
The Senate also voted to confirm Philip Jefferson and Lisa Cook as Fed governors this week, and the nomination of Michael Barr to be vice-chair in charge of financial regulation is pending. New presidents of the Fed regional banks in Boston and Dallas are set to take over this summer, and there will soon be vacancies at the helm of the Chicago and Kansas City Fed due to mandatory retirements.Powell will have the benefit of experience and bipartisan credibility, but faces an exceptionally difficult task in undoing his own first-term policies and reduce inflation without excessive collateral damage.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Economist Lisa Cook to become first Black woman on Fed boardThe economist Lisa Cook was confirmed as the first Black woman on the Federal Reserve Board in a historic moment for the central bank as it tries to stabilize a recovery that serves all Americans.
Read more »
American household debt continues to march higher, driven by one major factor, New York Fed saysAmerican households’ debt continued to increase in the first quarter of this year as the country stared down inflation, soaring housing costs, and fears of a possible recession.
Read more »
Black teachers are fed up––and they’re quitting in droves - New York Amsterdam NewsIn its 2021 State of the U.S. Teacher Survey, RAND Corporation researchers found that about half of Black teachers reported they were “likely” to leave their jobs by the end of the school year, which was higher than other races.
Read more »
Fed isn't ruling out 75 basis point moves forever, Mester saysThe Federal Reserve isn’t ruling out 75 basis point moves forever, but a pace of smaller 50 basis point moves “seems about right to me,” Cleveland Fed president Loretta Mester said.
Read more »
Senate approves Lisa Cook as first Black woman to Fed postWASHINGTON (AP) — The Senate confirmed economist Lisa Cook on Tuesday to serve on the Federal Reserve’s board of governors, making her the first Black woman to do so in the institution&…
Read more »
Senate approves Lisa Cook as first Black woman on Fed boardFederal Reserve nominee Lisa Cook won Senate confirmation Tuesday, becoming the first Black woman to sit on the central bank’s board of governors.
Read more »