Powell’s main challenge is soaring inflation.
The United States as head of the Fed Jerome Powell69. The Senate confirmed his appointment on Thursday by 80 to 19 votes, he says CBNC-channel.
Powell has continued to lead the bank, although his first term officially ended as early as February. Powell’s re-election has been delayed by other disputed selections by the central bank’s board of directors.
President of the United States Joe Biden appointed Powell for a second term in November.
Powellin the main challenge is soaring inflation, which is at its highest level in 40 years due to, among other things, the war in Ukraine and China’s interest rate restrictions. He has been criticized for reacting too slowly to the situation, even though the US Federal Reserve raised the key interest rate by half a percentage point last week, the most aggressive move in more than two decades.
Powell also assured that the central bank will use all the measures at its disposal to push down prices.
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