November 9, 2017 / 1:30 AM / a year ago

U.S. Senate panel sets Nov. 28 confirmation hearing for Fed chair nominee Powell

WASHINGTON, Nov 8 (Reuters) - The U.S. Senate Banking Committee will hold a confirmation hearing for Jerome Powell, President Donald Trump’s nominee for chairman of the Federal Reserve Bank, on Nov. 28, the committee said in a statement on Wednesday.

Trump last week tapped Fed Governor Powell, 64, to become head of the U.S. central bank, breaking with precedent by denying Janet Yellen a second term but signaling a continuation of her cautious monetary policies. (Reporting by Howard Schneider; Writing by Mohammad Zargham; Editing by Eric Beech)

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