Jerome Powell, an attorney and private equity investor, was sworn in today as a member of the Federal Reserve’s Board of Governors, the central bank said.
President Barack Obama announced in December that he would nominate Powell, a former Treasury undersecretary for President George H.W. Bush, to the Fed board for a term ending in January 2014. Powell, along with Harvard University Professor Jeremy Stein, was confirmed by the Senate last week.
Powell was sworn in by Chairman Ben S. Bernanke in Washington. He will be able to participate in the Federal Open Market Committee’s next policy meeting on June 19-20.
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