United States:
Senate Banking Committee Advances Nominee For Fed Chair
07 December 2017
Cadwalader, Wickersham & Taft LLP
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The U.S. Senate Banking Committee (the "Committee") voted
to approve the nomination of Jerome Powell to serve as Chair of the
Board of Governors of the Federal Reserve System.
Mr. Powell was
nominated by President Donald J. Trump on November 2,
2017. He
testified before the Committee on November 28, 2017. Senator
Elizabeth Warren (D-MA) was the lone Committee member to vote
against Mr. Powell.
Mr. Powell's nomination will now advance to the full Senate
for a confirmation vote. If confirmed, he will succeed Janet
Yellen, whose term concludes on February 3, 2018.
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