US Senate panel sets Nov. 28 confirmation hearing for Fed chair nominee Powell

Carlos Barria | Reuters

President Donald Trump, left, and Jerome Powell, governor of the U.S. Federal Reserve and Trump’s nominee for chairman of the Federal Reserve, walk to a nomination announcement in the Rose Garden of the White House in Washington, D.C., U.S., on Thursday, Nov. 2, 2017.

The U.S. Senate Banking Committee will hold a confirmation hearing for Jerome Powell, President Donald Trump’s nominee for chairman of the Federal Reserve Bank, on Nov. 28, the committee said in a statement on Wednesday.

Trump last week tapped Fed Governor Powell, 64, to become head of the U.S. central bank, breaking with precedent by denying Janet Yellen a second term but signaling a continuation of her cautious monetary policies.