Jerome Powell sworn in as new Fed chair

Yellen disappointed not to get a second term as Fed chair

Janet Yellen said she was disappointed President Donald Trump didn't offer her a second term as chairwoman of the Federal Reserve. While Yellen saw mostly low rates and inflation, Powell takes office as bond yields and inflation are rising. "I look forward to continuing to study the economy, especially issues related to the labor market, and contributing to public policy debates on a range of economic issues".

The has soared 315 percent since the March 2009 bear market lows and about 53 percent since she took over as chair of the central bank in 2004. However, the yields on government bonds are now at several-year highs, and the stock market ended Friday's extremely hard week in which Dow Jones lost 666 points on Friday. After her last day at the Fed on Friday, she will start a new job today at the Brookings Institution.

"My colleagues and I will remain vigilant, and we are prepared to respond to evolving risks", Powell said.

The financial system is now "much better capitalized" and the banking system "more resilient" than they were entering the global financial crisis a decade ago, Yellen said.

"I've worked with Gov. Powell for five years, very constructively", Yellen said.

Disney World to honor Super Bowl MVP Nick Foles with parade
Bank Stadium, while the green-and-white confetti obscured everybody's view of the victorious players, to talk to Wentz. I'm not anxious about my future right now, there'll be a time and a place to handle all that.

The former lawyer will be the first Fed chair without an extensive background in economics since G William Miller in the late 1970s.

Powell has a bachelor degree in politics from Princeton University and a law degree from Georgetown University.

With the economy improving steadily, the Fed will likely raise rates three times in 2018, as projected under Yellen.

Powell will likely face a tough task as he tries to steer the United States economy. The Fed is expected to continue gradually raising interest rates back toward more "normal" levels.

Related News:



Most liked

What's New in PS4 Update 5.50, All the Changes
There are many PS4 themes and custom wallpapers online , including our own gallery of hundreds of video game-related images. The child will receive notifications telling them when the time is about to expire so they can save and quit their game.

Polish President Says Will Sign Holocaust Law
He added that he will tell his hosts, "I came to tell the truth where the truth occurred - and it's not dependent on any law". Poland's president says he will sign a controversial Holocaust bill , despite angry protests from Israel and the US.

Indian atrocities can not stop Kashmir from getting freedom: COAS
He said that the Kashmir government should remain focused on providing better governance and raising the Kashmir cause at global fora.

Barbra Streisand, Gwyneth Paltrow, Ben Platt to star in Netflix's 'The Politician'
According to Deadline , Streisand is in talks to co-star in the hourlong comedy series " The Politician ". Murphy is set to direct the pilot, while Streisand is also expected to direct some episodes.

The Cloverfield Paradox: Everything We Know About Cloverfield 3
Unlike 10 Cloverfield Lane , the story of The Cloverfield Paradox is directly tied to the original. The Cloverfield Paradox isn't entirely a secret, nor did it get a traditional theatrical release .

Larry Nassar sentenced to 40 to 125 years on Eaton County charges
The third and final case against Nassar focused on sexual abuse at an elite gymnastics facility in Eaton County, Michigan . The 54-year-old's life since then has been a series of guilty pleas, court hearings and prison sentences.

South Carolina Amtrak crash: Deaths, scores injured after trains collide
The NTSB and other officials continue to investigate and work through the details of an Amtrak train crash in Cayce Sunday. An Amtrak train traveling in SC collided with a CSX freight train on Sunday, killing two people and injuring at least 70.

Is it too late to protect your child?
Russell also recommends regular hand washing to avoid catching the flu . "Last year, we dispensed 120 flu shots ", Acampora said. The U.S. flu vaccines are reviewed annually and updated to match the circulating flu viruses.

Markets Right Now: Indexes slide as energy, tech stocks sink
But market players are not convinced that the bull market in stocks that that saw the S&P 500 rise 5.6 percent in January is over. Beyond low unemployment, average hourly wages grew 2.9 percent in the first month of the year compared to January 2017.

The solid economy can give thanks to Janet Yellen
The only woman to serve as the head of the USA central bank described her work at the Fed as "the core of my existence". Since she took control in February 2014, the Dow Jones Industrial Average has risen by more than 65 per cent.

TDP to decide future of alliance with BJP
The TDP chief said the party's next course of action would depend on the response of Prime Minister Narendra Modi's government. Chandrababu Naidu openly conveyed his displeasure in a cabinet meeting held the next day after the union budget at Amaravati .

Gunman arrested after 'racially motivated' shooting in Italian town of Macerata
They are running against Matteo Renzi's much-splintered centre-left Democratic Party and the populist 5-Star Movement. He posted to Facebook earlier this week of the Nigerian suspect, "What was this worm still doing in Italy? ".

Syrian civilians injured in chlorine gas attack
On Thursday, the Trump administration accused Assad of producing and using "new kinds of weapons" to deliver deadly chemicals. Mattis did not provide further details on which reports on the use of sarin he was referring to.

Ammo dealer wasn't involved in Las Vegas attack
Haig advertised armor-piercing incendiary ammunition on his website, which now says the business is "closed indefinitely". The only other person of interest named in search warrants was Paddock's girlfriend, Marilou Danley.

International Olympic Committee mistakenly invited banned Russian to Olympics as coach
The Swiss-based court said there was insufficient evidence to show that certain Russian athletes had broken anti-doping rules. A figure skating pair are among 10 North Korean athletes who have arrived in South Korea for the Winter Olympics.