The US Federal Reserve Board has named Jerome Powell as "chair pro tempore" but his confirmation for the second term is still pending by the Senate.
"The action, effective February 5, enables him to continue to carry out his duties as Chair after the expiration of his term on the same day, and while the confirmation process is underway," the Federal board announced on Friday.
If elected Jerome Powell will be termed on the Federal Board till 2028, the central bank said.
Earlier in November 2021, President Biden announced that he nominated Jerome Powell for a second term as Federal Chair and the bank's Governor Lael Brainard as Vice Chair but the Senate hasn't confirmed yet.
UiTV Chairman Vedan Choolun wishes good luck to Jerome Powell. Vedan Choolun praises the work and progress of the organization under his leadership.