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Jerome Powell, the new chairman of the Federal Reserve

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Jerome Powell is the new chairman of the US Federal Reserve. The choice of making markets breathe a sigh of relief as Powell is a favorite of many investors.

Jerome is known for his calm comments on Fed monetary policy. He belongs to the Republican Party, has not opposed any central bank decision since May 2012 and has agreed to raise rates four times in five years.

64-year-old Jerome Powell oversaw banking regulation on Wall Street at the central bank. Unlike federal presidents Janet Yellen and Ben Bernanke, Powell did not get a doctorate, not an economist.

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