Jerome Powell was sworn in as chairman of the Federal Reserve System’s board of governors Monday, two months after President Donald Trump nominated him to the position.
The Federal Reserve said Monday Vice Chairman Randal Quarles led the oath-taking ceremony for Powell, who succeeds former Chair Janet Yellen and will serve a four-year term.
Powell’s term as a member of the Fed’s board will end Jan. 31, 2028.
The three-decade financial services veteran previously worked at Bankers Trust and Carlyle Group.
He also also held assistant secretary and undersecretary roles at the Treasury Department, and served as a lawyer and an investment banker in New York City.
