Jerome Powell

January 17

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Thank you.

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On December 5 the Senate Banking Committee voted 22 to 1 to approve him and send the matter for a vote by the full Senate.

Why has the full Senate not voted on it?

The nomination will go to the full Senate for confirmation.

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Yes indeed.

When? The Senate Banking Committee voted on December 5th. Chairperson Yellen's term ends on February 3rd.

What is the full Senate waiting for? When will it act?

On Jan. 17, 2018, the Banking, Housing and Urban Affairs Committee voted in favor of Jerome “Jay” Powell. The nomination will go to the full Senate for confirmation. The Senate Banking Committee has voted for a second time to approve President Donald Trump's nomination of Jerome Powell to be the next chairman of the Federal Reserve. The re-vote was needed because the full Senate did not take up Powell's nomination last year. Senate Banking Committee Chairman Mike Crapo, R-Idaho, did not indicate when the full Senate would take up Powell's nomination. The vote is expected to occur before Yellen's term as Fed leader ends. Her term as a Fed board member does not end until 2024, but she said in a resignation letter last year that she would leave the board once Powell is sworn in as chair.

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Thank you.