“Governor Powell has proved he is qualified to lead the Fed,” Sen. Mike Crapo, a Republican from Idaho and chairman of the committee, said at the hearing. If Powell is confirmed by the Senate panel, his nomination will advance to the Senate for a full vote. It’s unclear when that vote would be scheduled. President Trump nominated Powell early last month to replace Chairwoman Janet Yellen when her four-year term expires on February 3.
And What’s next for the future of Federal Reserve? Jerome Powell was a lawyer in New York before he joined the investment bank Dillon, Read & Co. in 1984 and stayed there until he joined the Treasury Department in 1990. After he left Treasury, he became a partner in 1997 at The Carlyle Group (CG), the private equity and asset management giant. He left Carlyle in 2005. Powell spent much of his career in investment banking and private equity before joining the Fed.
For more information He says “Fed likely to hike rates in December and this might bad signal for Gold. What do you think about it?