Sen. Elizabeth Warren voices concern that Jerome Powell, as head of the central bank, “will roll back critical rules that help guard against another financial crisis.”
The agreement reached by House and Senate GOP leaders also calls for scrapping a major tax requirement of “Obamacare,” a step toward the ultimate GOP goal of unraveling the health care law.
The move by the central bank indicates that it expects the job market and the economy to strengthen further.
Jerome Powell, a Federal Reserve board member, is seen as a safe choice who represents continuity.
Black and Latino working-class activists attempted to hold leading U.S. economic policymakers accountable to communities of color by posing tough questions to 10 Federal Reserve presidents and governors at the institution's annual Jackson Hole Policy Symposium.
"Start imagining what we, the savers, have to endure because of plutocratic, crony capitalism for which the Federal Reserve has long been a leading Tribune."
Beating out President Barack Obama, Chinese leader Xi Jingping and Pope Francis, in order, Russian President and tiger wrestler Vladimir Putin tops Forbes' annual list of the most powerful people in the world.