Jerome Powell

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Asian, European Markets Join Global Sell-Off

It was a rough first day for the new Fed chief

(Newser) - The first day in a new job is often tough—especially when you're the new chief of the Federal Reserve and the Dow Jones has the largest single-day point drop in its history. The 4.6% drop means Jerome Powell is unlikely to have much of a honeymoon period... More »

Here Is the New Fed Chief

Senate confirms Jerome Powell, who isn't expected to break from Janet Yellen's policies

(Newser) - The Senate has approved President Trump's selection of Jerome Powell to be the next chairman of the Federal Reserve beginning next month. Senators voted 85-12 to confirm Powell to lead the nation's central bank, a post that's considered the most powerful economic position in government, per the... More »

Federal Reserve Chair Submits Resignation

Janet Yellen will depart board when term ends

(Newser) - Janet Yellen submitted her resignation from the Federal Reserve board to President Trump on Monday, announcing that she will leave when her successor is sworn in as Fed chairman. In a letter to the president, Yellen said she would do her "utmost" to ensure a smooth transition to Jerome... More »

Name of Trump's Likely Pick for Fed Chair Released

The president has been looking for a replacement for Janet Yellen

(Newser) - Even as the White House is reeling from the indictments of three former presidential campaign officials, Donald Trump is reportedly moving along with plans to replace the chairwoman of the Federal Reserve, Janet Yellen, the New York Times reports. After several months of speculation and hype from the president, administration... More »

Every Fed Member Is a Millionaire

Although Ben Bernanke appears to just barely qualify

(Newser) - It's a safe bet that whoever replaces Ben Bernanke as Fed chief will be personally familiar with large sums of money. Janet Yellen has assets worth between $4.8 million and $13.2 million—including a stamp collection worth up to $50,000—while fellow frontrunner Larry Summers clocks... More »

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