The new head of the Fed will be Jerome Powell, he was chosen by the US Senate

The US banking committee of the US Senate by the overwhelming majority of votes (22 versus 1) advocated the appointment of Jerome Powell with the new chairman of the federal reserve system.

The only member of the committee that voted against, was the representative of the Democratic Party Elizabeth Warren. She objected, since, in her opinion, Powell may try to cancel a number of provisions in the field of regulation of the banking sector, introduced after the last financial crisis.

The candidacy of Powell, who is currently included in the Council of Management of the Fed, nominated in November by US President Donald Trump.

Powell - Republican, lawyer by education. He first worked in one of the New York Law firms, at Dillon, Read & Co., in the Ministry of Finance, in the Carlyle Group investment bank, he was appointed to the Federal Reserve Board in 2012.