Back to: Politics
December 05, 2017 10:17 AM

Senate Panel Approves Jerome Powell As Fed Chairman

Washington (AP)

The Senate Banking Committee has given approval to President Donald Trump's selection of Jerome Powell to be the next chairman of the Federal Reserve.

Powell won the support of everyone on the committee except Sen. Elizabeth Warren, D-Massachusetts. She cast the lone no vote saying she could not support Powell because of her concerns that he would join in efforts by the Trump administration to unravel the Dodd-Frank Act passed in 2010 to strengthen regulation of the nation's banking sector.

The nomination now goes to the full Senate where it is expected to win easy approval.

Powell, who has been a member of the Fed board since 2012, was tapped for the chairman's job after Trump decided against nominating Fed Chair Janet Yellen for a second term.
 
© 2017 Associated Press. All Rights Reserved. Material may not be redistributed.
  • President
  • Budget
  • Politics
  • General
Views
Sponsored

Keloland Live Doppler

Sioux Falls, SD - Change
Sponsored
Sponsored
GEARUP Refer

Sponsored