BREAKING: Fed chair Jerome Powell confirmed to second term
skilled at building bridges across partisan lines — as reflected in his appointments to Fed positions by three presidents and his bipartisan Senate confirmation vote.represents continuity in the leadership of the central bank, this is also a time of many new faces at the top ranks of the Fed.
The Senate also voted to confirm Philip Jefferson and Lisa Cook as Fed governors this week, and the nomination of Michael Barr to be vice-chair in charge of financial regulation is pending. New presidents of the Fed regional banks in Boston and Dallas are set to take over this summer, and there will soon be vacancies at the helm of the Chicago and Kansas City Fed due to mandatory retirements.Powell will have the benefit of experience and bipartisan credibility, but faces an exceptionally difficult task in undoing his own first-term policies and reduce inflation without excessive collateral damage.
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