Jerome Powell today takes over from Janet Yellen as chairman of the Federal Reserve. Yellen served as Fed chair since February 2014 and previously as vice chair, while Powell has been a member of the Board of Governors since May 2012.
In a statement, ICBA Chairman Scott Heitkamp and ICBA President and CEO Cam Fine thanked Yellen for her service and said the association looks forward to working with Powell.
“Chair Yellen has proven to be an able economic forecaster and strong, guiding hand at the Fed in setting monetary policy to support the U.S. economic recovery and the nation’s community banks,” they said.
Read ICBA Release