The Senate Banking Committee overwhelmingly approved President Trump’s nomination of Jerome Powell to become the next chairman of the Federal Reserve.
The bipartisan vote was 22-1 in favor, with Sen. Elizabeth Warren (D-MA) casting the only negative vote. Warren claimed her belief that Powell would ease financial rules rather than make them stronger. However, Sen. Sherrod Brown (D-OH), the committee’s ranking member, stated Powell “provides our economy with the best chance of continued economic growth.”
Powell’s nomination will go to the full Senate for official confirmation.