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Jerome H. Powell sworn in as Chairman of the Board of Governors of the Federal Reserve System

February 05, 2018 / Source: Federal Reserve

Jerome H. Powell on Monday took the oath of office as Chairman of the Board of Governors of the Federal Reserve System, succeeding Janet L. Yellen. The oath was administered by Vice Chairman Randal K. Quarles in the Board Room.

President Trump announced his intention to nominate Mr. Powell to be the Chairman of the Board of Governors on November 2, 2017, and the Senate confirmed him on January 23, 2018, following a hearing by the Senate Committee on Banking, Housing and Urban Affairs on November 28, 2017. Prior to his appointment as Chairman, Mr. Powell served as a member of the Board of Governors.

Mr. Powell's term as Chairman is four years; his term as a member of the Board ends January 31, 2028.

A biography of Mr. Powell is available on the Board's website: https://www.federalreserve.gov/aboutthefed/bios/board/powell.htm