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Senate Confirms Multimillionaire Banker Jerome Powell

HeadlineJan 24, 2018

The Senate has confirmed multimillionaire banker Jerome Powell to replace Federal Reserve Chairwoman Janet Yellen. Powell is a former partner at the massive investment firm Carlyle Group, which is a major investor in military contractors, as well as telecommunications, fossil fuel companies, financial services and other industries. His confirmation marks the first time in 40 years that someone who is not an economist is leading the Federal Reserve.

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