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Montevideo, September 24th 2018 - 05:53 UTC

Tag: Diane Swonk

  • Wednesday, February 7th 2018 - 15:23 UTC

    Powell becomes chairman of the Fed in a turbulent trading day

    President Donald Trump picked Powell after deciding to break with recent tradition by not offering Yellen a second four-year term.

    Jerome Powell was sworn as the 16th chairman of the Federal Reserve on what turned out to be a turbulent day for Wall Street, with the Dow Jones industrial average plunging by more than 1,100 points. Powell, 65, was given the oath of office by Randal Quarles, the Fed's vice chairman for supervision, in a ceremony that took place before stock trading opened on Wall Street.