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The current chairman is Jerome Powell, who was sworn in on February 5, 2018. [4][5] He was nominated to the position by President Donald Trump on November 2, 2017, [6] and later confirmed by the Senate. He was subsequently nominated to a second term by President Joe Biden, later confirmed by the Senate and sworn in on May 23, 2022. [7][8]
President Biden has tapped Jerome Powell to serve a second term as chairman of the Federal Reserve as the economy faces huge challenges, including surging inflation.
Subject to the approval of the Federal Reserve Board of Governors, the president is appointed by the Reserve Bank's Class B and C directors (those directors who are not affiliated with a supervised entity).
The Chair and the Vice Chair of the Board, as well as the Vice Chair for Supervision, are nominated by the President from among the members and are confirmed by the Senate. They serve a term of four years. A member's term on the Board is not affected by his or her status as Chair or Vice Chair.
He became a member of the Federal Reserve Board of Governors after being nominated to the post by President Barack Obama in 2012, he was subsequently elevated to chairman by President Donald Trump (succeeding Janet Yellen) and renominated to the position by President Joe Biden.
President Biden announced that he was nominating Jerome H. Powell, the Federal Reserve chair, to another four-year term. He also nominated Lael Brainard, a Federal Reserve governor, as the...
Jerome H. Powell first took office as Chair of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. He was reappointed to the office and sworn in for a second four-year term on May 23, 2022.
President Biden has tapped Jerome Powell to serve a second term as chairman of the Federal Reserve. Fed governor Lael Brainard will serve as vice chairman.
Jerome Powell has been nominated for a second term as chair of the US Federal Reserve by President Joe Biden. Mr Powell is set to stay in the role, which includes managing inflation and...
President Biden on Monday nominated Federal Reserve Chair Jerome Powell, a Republican, for a second four-year term, tapping the battle-tested centrist who helped lift the U.S. economy out of...