Fed Chair Jerome Powell is the current Chairman of the Federal Reserve, serving since February 2018. He was nominated by President Donald Trump and unanimously confirmed by the U.S. Senate. Prior to his appointment as Fed Chair, he served as a member of the Board of Governors at The Federal Reserve System from 2012-2018.
As chair of The Federal Reserve, Powell oversees monetary policy in addition to financial regulation throughout the United States banking system and economy more generally. His main goal is to maintain maximum employment while keeping inflation low and stable over time – also known as achieving “price stability”. As part of this mission, he works with other members on The Federal Open Market Committee (FOMC) which meets 8 times per year to discuss economic conditions that may lead them to take action or make adjustments in an effort to ensure price stability across various markets including stocks, commodities and cryptocurrencies like Bitcoin (BTC).
Powell has expressed optimism about digital currencies such as Bitcoin; however his approach towards regulating these assets remains cautious given their lack of central oversight compared traditional national currencies backed by governments around world . Despite this hesitance ,he acknowledges potential benefits they could bring such increased access for individuals who are currently underserved through traditional banking systems due high costs associated with accessing services provided historically only large financial institutions .
Overall , Powell’s stance appears aimed at finding a balance between allowing innovation within cryptocurrency space while providing necessary protections prevent against fraud money laundering activities reportedly carried out using some digital currency networks recent years .
