1/3
Powell might not be chairman in 2 weeks, and it will not matter.
Sherrod Brown (D, OH), the head of the Senate finance committee, said the committee will most likely vote on the Powell/Brainard nominations in early Feb.
No date on the full Senate floor confirmation vote.
Powell might not be chairman in 2 weeks, and it will not matter.
Sherrod Brown (D, OH), the head of the Senate finance committee, said the committee will most likely vote on the Powell/Brainard nominations in early Feb.
No date on the full Senate floor confirmation vote.
2/3
Powell's term as Fed Chairman ends January 31. His term as a "regular" Fed governor expires in 2028.
(The Fed chairman is also a "regular" Fed Governor, think of them as two separate things)
Powell's term as Fed Chairman ends January 31. His term as a "regular" Fed governor expires in 2028.
(The Fed chairman is also a "regular" Fed Governor, think of them as two separate things)
3/3
Brown told the press yesterday it doesn't matter that Powell technically expires as Chairman on the 31st.
All parties will probably agree to treat him as the Fed Chairman, and everything continues as is.
Your dysfunctional Government making things up.
@DiMartinoBooth
Brown told the press yesterday it doesn't matter that Powell technically expires as Chairman on the 31st.
All parties will probably agree to treat him as the Fed Chairman, and everything continues as is.
Your dysfunctional Government making things up.
@DiMartinoBooth
Regarding my last comment about "making things up" ... Thanks to @mckonomy for setting me straight...
The law says Fed officials can continue on the job until their successor is sworn in. So, Powell would remain Chairman of the Federal Reserve Board until a successor is in place
The law says Fed officials can continue on the job until their successor is sworn in. So, Powell would remain Chairman of the Federal Reserve Board until a successor is in place
But since Powell is the successor, it doesn't make much of a difference.
As for the FOMC, the committee elects its chairman for the year each in January.
By tradition it's always the chairman of the Board of Governors, but it doesn't have to be.
As for the FOMC, the committee elects its chairman for the year each in January.
By tradition it's always the chairman of the Board of Governors, but it doesn't have to be.
The FOMC chair doesn't even have to work at the Fed.
In theory, Jim Bianco could be named chairman of the FOMC.
So even if he's not officially confirmed as chairman of the board, Powell will be reelected as chair of the FOMC on Jan 26.
In theory, Jim Bianco could be named chairman of the FOMC.
So even if he's not officially confirmed as chairman of the board, Powell will be reelected as chair of the FOMC on Jan 26.
Given this ...
I look forward to my appointment next week!
In my acceptance speech I will quote Groucho Marx ...
"I refuse to join any club that would have me as a member."
I look forward to my appointment next week!
In my acceptance speech I will quote Groucho Marx ...
"I refuse to join any club that would have me as a member."
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