JEROME Powell is the Chairman of the United States Federal Reserve.
On Wednesday, January 26, 2022, he is expected to deliver a speech at the FOMC Press Conference.
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What time is Jerome Powell’s speech today, Wednesday, January 26?
Jerome Powell‘s speech on Wednesday is expected to begin around 2.30pm ET, after the Federal Reserve releases a statement regarding their plans for the upcoming fiscal year.
The speech and press conference is available to stream, directly on the Federal Reserve website.
Powell was first appointed as chairman by former President Donald Trump, and reappointed in 2021 by Biden.
The Federal Reserve Chairman is selected from one of the seven Board of Directors by the president, and is then sent to be approved by the Senate.
Each term is for four years and can be reappointed by the sitting president at the end of the time frame.
The chair’s role is to push for maximum employment, moderate long-term interest rates, and stable prices.
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What is he expected to cover in the speech?
Chairman Jerome Powell is set to address the potential rise in interest rates and other policy tightening moves by the Federal Reserve.
On Wednesday, January 26, 2022, the Federal Reserve is expected to issue a statement showing their resolve to fight inflation.
Officials are expected to announce they are ready to raise the federal funds rate from zero by March.
The Federal Reserve is also expected to address their multi-trillion dollar balance sheet, and how they will attempt to lower it during the new year.
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Who is Jerome Powell?
President Joe Biden reappointed Jerome Powell as the Federal Reserve Chairman on November 22, 2021.
Republican Jerome Powell was first appointed as the Federal Reserve Chairman on November 2, 2017, by former President Donald Trump.
He officially took up the position in February 2018.
Powell is from Washington, D.C. and earned his Bachelor’s degree in politics from Princeton University in 1975.
He then moved on to Georgetown University to earn his law degree in 1979.
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