Wall Street and Main Street will get their first big clue this week on how the next leader of the Federal Reserve plans to safeguard the U.S. economy and set the cost of borrowing for consumers and businesses.
Jerome Powell, nominated by President Trump to be the next chairman, heads to Capitol Hill on Tuesday to take questions from the Senate. Powell is set to take over from outgoing Chairwoman Janet Yellen.
“This is Powell’s chance to prove to the Senate Banking Committee and the markets that he is up to the job,” said Paul Ashworth at Capital Economics.
