Yellen to leave Fed board once Powell sworn in as central bank chief | Reuters

WASHINGTON (Reuters) - U.S. Federal Reserve Chair Janet Yellen will leave her seat on the central bank’s Board of Governors once Jerome Powell is confirmed and sworn in to replace her as head of the Fed, the central bank and Yellen announced on Monday. FILE PHOTO: Federal Reserve Chair Janet Yellen speaks during a news conference after a two day Federal Open Market Committee (FOMC) meeting in Washington, U.S., March 15, 2017.

Reuters November 21, 2017 01:45:12 IST
Yellen to leave Fed board once Powell sworn in as central bank chief | Reuters

Yellen to leave Fed board once Powell sworn in as central bank chief  ReutersWASHINGTON (Reuters) - U.S. Federal Reserve Chair Janet Yellen will leave her seat on the central bank’s Board of Governors once Jerome Powell is confirmed and sworn in to replace her as head of the Fed, the central bank and Yellen announced on Monday. FILE PHOTO: Federal Reserve Chair Janet Yellen speaks during a news conference after a two day Federal Open Market Committee (FOMC) meeting in Washington, U.S., March 15, 2017. REUTERS/Yuri Gripas/File PhotoYellen’s term as Fed chief ends in February, but she technically could continue serving out a separate appointment as a Fed governor until 2024. Keeping with past practice, Yellen in a letter to President Donald Trump said she would resign when Powell is sworn in, and in the meantime “will do my utmost to ensure a smooth transition.”

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

Pulitzer Prize-winning photojournalist Danish Siddiqui killed in Afghanistan: Politicans, journalists pay tributes
India

Pulitzer Prize-winning photojournalist Danish Siddiqui killed in Afghanistan: Politicans, journalists pay tributes

The Pulitzer prize winner, who was in Kandahar covering operations against Taliban, was killed when he was riding along with the Afghan Special Forces

Indian photojournalist Danish Siddiqui killed during assignment in Afghanistan's Kandahar province
India

Indian photojournalist Danish Siddiqui killed during assignment in Afghanistan's Kandahar province

Siddiqui had also covered the 2020 Delhi riots, COVID-19 pandemic, Nepal earthquake in 2015 and the protests in Hong Kong

Danish Siddiqui's passing is a reminder of the high price one pays for showing the truth
India

Danish Siddiqui's passing is a reminder of the high price one pays for showing the truth

Danish's photographs were not just documentation, but the work of someone who went down to eye-level, as they say in photographic parlance.