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Majority of Senate backs Powell as next Fed chair - Metro US

Majority of Senate backs Powell as next Fed chair

FILE PHOTO: Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on his nomination to become chairman of the U.S. Federal Reserve in Washington, U.S., November 28, 2017. REUTERS/Joshua Roberts/File Photo
Reuters

WASHINGTON (Reuters) – A majority of the U.S. Senate on Tuesday voted to confirm Federal Reserve Governor Jerome Powell as the next head of the central bank, likely ensuring continuity in monetary policy.

Powell, who was seen as an uncontroversial pick with views closely aligned with current Fed Chair Janet Yellen’s, is a lawyer and former investment banker. He has served on the Fed’s Board of Governors since 2012.

(Reporting by Howard Schneider; Editing by Tim Ahmann)

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