Majority of U.S. Senate backs Powell as next Fed chair

A majority of the U.S. Senate on Tuesday voted to confirm Federal Reserve Governor Jerome Powell as the next head of the central bank, likely ensuring continuity in monetary policy.

Powell, who was seen as an uncontroversial pick with views closely aligned with current Fed Chair Janet Yellen`s, is a lawyer and former investment banker. He has served on the Fed`s Board of Governors since 2012.

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