Powell, a former investment banker who has served as a Fed governor, was confirmed by the Senate last month to a four-year term as chair of the central bank.
Her career at the Federal Reserve is one of stunning accomplishments, but time will tell how her tenure ultimately is remembered on bank regulation and stewardship of the economy.
The Senate Banking Committee had approved Powell already in December, but a revote was necessary after the Senate adjourned for the year without finalizing his confirmation.
The Fed’s rate hike on Tuesday will raise bank's funding costs, serving as a stark reminder that a return to strong, broad-based business loan demand can’t come soon enough.
During his time as Fed governor, Chair-designate Jerome Powell has outlined his views on a host of bank regulatory matters, including the need for regulatory relief, the push for housing finance reform, blockchain and much more.
If President Trump picks Federal Reserve Board Gov. Jerome Powell as its next chair, it may represent the best of all worlds for bankers — a policymaker who will continue the central bank's monetary policy but be open to regulatory changes.
