Watch Fed Chair Jerome Powell testify live at his Senate confirmation hearing
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Federal Reserve Chairman Jerome PowellAs part of the Senate Banking Committee’s confirmation process, he testified Tuesday in support of the second term at the head central bank.
Powell will deliver prepared remarksAsk questions of panelists. He made his case for another term by stating that the economy was recovering well from the pandemic and that the banking system is stable.
He also expressed concern about inflation, and stated that the Fed would take all necessary measures to reduce rising prices.
The Federal Reserve is there for everyone. He stated in a statement that the Federal Reserve’s decisions are important to everyone, including families, businesses, communities, across the nation. “I commit to taking those decisions with objectivity and integrity, as well as impartiality, on the basis of the best available evidence. This is in keeping with the long-standing tradition and independence of monetary policies.”
Powell’s appearance is followed by the hearing of current Fed Governors on Thursday Lael BrainardThe vice chair has been appointed to a nominee, namely.