Jerome Powell ends term as Federal Reserve chief clouded by Trump tumult
Summary
Jerome Powell's term as chair of the Federal Reserve has ended. His successor, Kevin Warsh, was confirmed by the Senate and will take over the role.Key Facts
- Jerome Powell completed his second four-year term as Federal Reserve chair.
- Powell's term ended recently, after several years leading the central bank.
- Kevin Warsh was confirmed by the Senate to become the new Federal Reserve chair.
- Powell had a challenging relationship with President Donald Trump during his term.
- The Federal Reserve is the U.S. central bank responsible for managing the country's money supply and interest rates.
- The transition from Powell to Warsh marks a leadership change at the Fed.
- Powell’s leadership period involved important decisions affecting the U.S. economy.
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