10:38, 18-Jan-2018
Next Fed Chairman: Senate panel votes again to approve Powell as Yellen's successor
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The U.S. Senate Banking Committee on Wednesday voted again to approve President Trump's nomination of Jerome Powell as the next chairman of the Federal Reserve.
The panel had approved Powell's nomination last month but had to vote again after the nomination expired at the end of 2017. The nomination now heads to the full Senate for a final vote.
Powell has been a member of the Fed's Board of Governors since 2012. He was nominated by Trump last November to succeed current Fed Chair Janet Yellen, whose term expires on Feb. 3rd.