Jerome H. Powell on Monday took the oath of office as Chairman of the Board of Governors of the Federal Reserve System, succeeding Janet L. Yellen. The oath was administered by Vice Chairman Randal K. Quarles in the Board Room.
President Trump announced his intention to nominate Mr. Powell to be the Chairman of the Board of Governors on Nov. 2, 2017, and the Senate confirmed him on Jan. 23, 2018, following a hearing by the Senate Committee on Banking, Housing and Urban Affairs on Nov. 28, 2017. Prior to his appointment as Chairman, Mr. Powell served as a member of the Board of Governors.
Mr. Powell's term as Chairman is four years; his term as a member of the Board ends Jan. 31, 2028.
A biography of Mr. Powell is available on the Board's website: www.federalreserve.gov/aboutthefed/bios/board/powell.htm.
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