U.S. Senate OKs Powell for 2nd term as Fed chair amid inflation woes

Politics Economy

The U.S. Senate on Thursday approved Federal Reserve Chairman Jerome Powell for a second term, tasking him with tackling inflation that has reached a 40-year high while keeping the world's largest economy from sliding into recession. The 69-year-old, who started his first term as the chair of the U.S. central bank in February 2018, will serve for another four years after receiving overwhelming support in the Senate which voted 80-19 in favor of extending his tenure. The Fed raised key interest rates by half a percentage point in a policy-setting meeting earlier this month, the biggest rate hik...

Kyodo News

Kyodo News