Jerome Powell confirmed as Federal Reserve Chair

Jerome Powell.
(Image credit: Saul Loeb/AFP/Getty Images)

The Senate on Tuesday confirmed Jerome Powell as the next chairman of the Federal Reserve, with a vote of 85-12.

Powell, 64, will lead the country's central bank and have major influence over the economy. He is succeeding Janet Yellen, whose term ends on Feb. 3. Powell, a lawyer and investment manager, has spent nearly six years on the Fed's board, and is viewed as a centrist, The Associated Press reports. He's been praised by Republicans and Democrats, with Sen. Sherrod Brown (D-Ohio) calling him a "thoughtful policymaker."

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Catherine Garcia, The Week US

Catherine Garcia is night editor for TheWeek.com. Her writing and reporting has appeared in Entertainment Weekly and EW.com, The New York Times, The Book of Jezebel, and other publications. A Southern California native, Catherine is a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.