The Federal Reserve appointed Colin Powell as interim chairman

The US Federal Reserve announced Thursday that it has appointed Jerome Powell as interim chairman pending senate confirmation of Powell’s nomination for a second term as chairman of the Central bank.The Federal Reserve said in a statement that Powell’s appointment as interim chairman of the Federal Reserve will take effect on Friday, allowing him to continue his duties beyond the end of his first four-year term as fed chairman.The Federal Open Market Committee, the central bank’s policy-making body, appointed Mr. Powell as chairman at its annual meeting in January, the statement said.Powell will also serve as a Fed governor until 2028.President Joe Biden nominated Powell for a second term last November, but the Senate has yet to vote on his nomination.Powell, who was born in February 1953, has been a Fed governor since May 2012 and fed chairman since February 2018.(Original title: Federal Reserve appointed Powell as interim chairman source: CCTV) Editor: Jin Chenye Coordinated: Wang Shaoyu