Powell's nomination to serve fresh Fed term advances in Senate
WASHINGTON (Reuters) - The nomination of Federal Reserve Governor Jerome Powell to serve a fresh term at the U.S. central bank cleared a procedural hurdle in the Senate on Tuesday, paving the way for a final confirming vote later this week.
Powell, who served in the U.S. Treasury under President George H.W. Bush, took office at the Fed in May 2012 to fill an unexpired board term that ended on Jan. 31. President Barack Obama renominated him to a fresh term that would end in January 2028.
The Senate is scheduled to hold a final vote on his nomination on Thursday.
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.