Jerome Powell was appointed the new Chairman of the Federal reserve system (FRS). This decision by an overwhelming majority (22: 1) took the Senate banking Committee, USA.
The only Committee member who voted against, was the representative of the Democratic party, Elizabeth Warren. In her opinion, Powell can try to cancel a number of provisions in the regulation of the banking sector, introduced after the recent financial crisis, reports Bloomberg.
According to the Agency, the candidacy of Powell, who is a member of the Board of governors of the Federal reserve, has nominated Donald trump.
We already know that Powell will lead the U.S. Central Bank. It will happen in February, when the post of head of the fed, leaving Janet Yellen.
It is expected that Powell, who in recent years worked closely with Yellen in determining the course of monetary policy, will continue the policy of careful cancellation of the stimulus measures — will be slow to raise interest rates and reduce the balance of the US Federal reserve.
We will remind, 64-year-old Jerome Powell is a member of the Republican party.