President Donald Trump, left, and Jerome Powell, the new chairman of the Federal Reserve on Thursday, Nov. 2, 2017.
Carlos Barria | Reuters
The U.S. Senate Banking Committee will hold a confirmation hearing for Jerome Powell, President Donald Trump's nominee for chairman of the Federal Reserve Bank, on Nov. 28, the committee said in a statement on Wednesday.
Trump last week tapped Fed Governor Powell, 64, to become head of the U.S. central bank, breaking with precedent by denying Janet Yellen a second term but signaling a continuation of her cautious monetary policies.