Powell, a former investment banker who has served as a Fed governor, was confirmed by the Senate last month to a four-year term as chair of the central bank.
The Senate Banking Committee had approved Powell already in December, but a revote was necessary after the Senate adjourned for the year without finalizing his confirmation.
During his time as Fed governor, chair-designate Jerome Powell has outlined his views on a host of bank regulatory matters, including the need for regulatory relief, the push for housing finance reform, blockchain and much more.
If President Trump picks Federal Reserve Board Gov. Jerome Powell as its next chair, it may represent the best of all worlds for bankers — a policymaker who will continue the central bank's monetary policy but be open to regulatory changes.
A divided Federal Reserve policy committee couldn’t reach agreement in June on the timing of when to begin shrinking its massive balance sheet, according to minutes of the meeting.
The Federal Reserve can be patient in setting monetary policy and the current rate may be the right level for the forecast horizon, Federal Reserve Bank of St. Louis President James Bullard said Friday.
Fed Chair Janet Yellen called the Treasury's report a "complicated document" that shared many of the central bank's objectives, including reducing regulatory burden without sacrificing safety and soundness.
Federal Reserve officials forged ahead with an interest-rate increase and additional plans to tighten monetary policy despite growing concerns over weak inflation.
The expansion of the Federal Reserve’s portfolio of Treasury debt and mortgage-backed securities has a bigger impact on the credit markets than paying banks interest on excess reserves.
