(Bloomberg) -- Jerome Powell, President Donald Trump’s choice to become Federal Reserve chairman, will have significant advantages once the Senate confirmation process gets started, even though he wasn’t the preferred choice of some Republicans.
Powell, a Republican, is already a member of the Fed Board of Governors, nominated by Democratic President Barack Obama, and is likely to get support from both parties.
He was confirmed in 2012 by the Senate 74-21 to fill an unexpired term. In 2014, he was confirmed 67-24 for a full 14-year term. In both instances, all but one of the opponents were Republican.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.