Jerome Powell he swore, officially becoming the chairman of the Federal Reserve: "Humbly, I am honored by this opportunity to serve the American people", these are his first words, in a video published on the Fed website, as head of the US central bank, where he takes Janet Yellen's place.
“Today – continued Powell – unemployment is low, the economy is growing and inflation is low. The financial system is stronger and more resilient than it was before the financial crisis that began nearly a decade ago. With our monetary policy decisions we will continue to support continued economic growth, a healthy labor market and price stability."
The new president specified that the Fed "remains vigilant and ready to respond. My colleagues and I will remain vigilant, we are ready to respond to evolving risks and we will also work hard to ensure that our regulation and supervision are efficient and effective”.
Powell joined the Fed board in 2012, under Obama. His nomination as president, wanted by Trump, it was in discontinuity with tradition, which had always seen central bank presidents confirmed after their first term, whatever their political orientation. It did not go like this for Janet Yellen, the new tenant of the White House wanted to mark a change of approach, preferring Powell's caution.
