The Federal Reserve said Friday that its board has voted to name Jerome Powell as “chair pro tempore” to allow him to continue to lead the central bank even though his official term has expired. The Senate is expected to vote in mid-February on President Joe Biden’s nomination of Powell for a second four-year term as Fed Chair. Analysts say his confirmation is a foregone conclusion with support from Democrats and Republicans. Powell’s separate term as a Fed Governor runs through 2028.
Source: Marketwatch
