Jerome H Powell was sworn in as the 16th Chairman of the Federal Reserve for a four-year term. Mr Powell has succeeded Janet Yellen, the first woman to lead the US central bank in its 100-year history.
Powell was nominated for the post in November 2017 by President Donald Trump. The oath was administered by Vice Chairman Randal K. Quarles in the Board Room.
Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
- The Federal Reserve System is the central banking system of the United States.
- It was created on December 23, 1913.
Source- The New York Times
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