December 5, 2017 / 3:18 PM / 10 days ago

U.S. Senate panel backs Jerome Powell for Fed chief

WASHINGTON, Dec 5 (Reuters) - The U.S. Senate Banking Committee on Tuesday voted to approve Fed Governor Jerome Powell to lead the Federal Reserve, sending his nomination to the full senate for a confirmation vote.

The Republican-controlled committee advanced his nomination 22-1. All Republicans on the panel backed him as did 10 of the 11 Democrats, with the exception of Senator Elizabeth Warren.

Powell, 64, was nominated by President Donald Trump last month to head the U.S. central bank. The lawyer and investment banker has served on the Fed’s Board of Governors since 2012. (Reporting by Lindsay Dunsmuir; Editing by David Gregorio)

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