People: Powell and Yellen comment on Fed chair pick; FPC member appointed
Nominee as Fed chair praises predecessors; UK’s FPC has new external member; and more
United States: After President Donald Trump nominated governor Jerome Powell as new chair of the Board of Governors of the Federal Reserve System on November 2, he and the current Fed chair Janet Yellen emphasised the importance of living up to the Fed’s mandate.
“I will do everything within my power to achieve the goals assigned to the Federal Reserve by the Congress: stable prices and maximum employment,” Powell said.
Powell, who joined the Fed’s Federal Open Market Committee in May 2012
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