The U.S. Senate has approved the nomination of Jerome Powell to head the Federal reserve

The nomination of Jerome Powell was formally approved for the post of head of the Federal reserve system. This decision was taken by the Senate Banking Committee, USA, has informed Bloomberg.

The banking Committee of the U.S. Senate held a vote for the new head of the fed. An overwhelming number of Committee members advocated the nomination of Jerome Powell. The only one who voted against it were Elizabeth Warren, a member of the Democratic party. It justified its decision by the fact that the candidate may cancel a number of laws in the banking sector, undertaken during the last financial crisis.

Recall that Powell’s as the candidate on post of the head of the fed was nominated President of the United States Donald trump at the beginning of last month. Now this candidate should support in the U.S. Congress. If that happens, Powell will lead the reserve Fund in February of next year at the end of the term of office of the current head.