Federal Reserve Chairman Jerome Powell gives an online press conference on Nov. 3, 2021. (Photo by Kyodo News/Sipa USA)
WASHINGTON (AP) — The Senate on Thursday confirmed Jerome Powell for a second four-year term as Federal Reserve chair, giving bipartisan backing to Powell’s high-stakes efforts to curb the highest inflation in four decades. The 80-19 vote reflected broad support in Congress for the Fed’s drive to combat surging prices through a series of sharp interest rate hikes that could extend well into next year. The Fed’s goal is to slow borrowing and spending enough to ease the inflation pressures.
“Copyright 2021 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.”
