February 5, 2018

Jerome Powell becomes new FED head

Jerome Powell took up his important post as head of the US Federal Reserve (Fed)

Jerome Powell took up his important post as head of the US Federal Reserve (Fed) on Monday. Like his predecessor Janet Yellen, the former financial investor advocates a moderate interest rate policy.
Jerome "Jay" Powell is not a central banker like everyone else. The man who celebrated his 65th birthday on Sunday is a lateral entrant in monetary policy. All his predecessors studied economics, but Powell is a lawyer. Apart from a short trip to the Treasury Department during George Bush senior's presidency, he spent most of his career in the finance industry. Since 2012, Powell has been a member of the Federal Reserve Board of Fed Governors, the body responsible for US interest rate policy and other monetary policy decisions.

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