Fed names Powell as ‘chair pro tempore,’ allowing him to continue in post awaiting Senate vote

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The Federal Reserve said Friday that its board has voted to name Jerome Powell as “chair pro tempore” to allow him to continue to lead the central bank even though his official term has expired. The Senate is expected to vote in mid-February on President Joe Biden’s nomination of Powell for a second four-year term as Fed Chair. Analysts say his confirmation is a foregone conclusion with support from Democrats and Republicans. Powell’s separate term as a Fed Governor runs through 2028.

This article was originally published by Marketwatch.com. Read the original article here.

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