TEMPO.CO, Jakarta - The Federal Reserve`s governor Jerome Powell has been appointed as the next chairman of the US central bank. The US Senate confirmed the decision today.
With a vote of 85 against 12, Powell will lead The Fed starting next month when Janet Yellen steps down.
The former investment banker was selected by Presiden Donald Trump on November 2017 to replace Yellen, the first woman to ever chair the Fed.
Powell joined the Fed in 2012. He is a well-known supporter of Yellen's interest rate hike policy, as well as an advocate of the White House's quantitative easing enacted following the US monetary crisis.
Janet Yellen will step down from her position on February 3. She will lead the Federal Open Market Committee on January 30-31.
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