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Senate confirms Powell for second term at Fed amid highest inflation in 40 years

Posted on AllSides May 12th, 2022
From The Right

The Senate has greenlighted Jerome Powell for another term as Federal Reserve chairman after President Joe Biden asked him to continue serving in the role.

Powell, a Republican who was first nominated by former President Donald Trump, has attracted bipartisan support, and Thursday’s vote was 80-19. He gained a second four-year term as the top central banker despite presiding over the highest inflation in four decades, and he now faces the urgent task of tightening monetary policy to ease price pressures.

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