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Federal Reserve

Watch Jerome Powell's confirmation hearing for Fed chair

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Jerome Powell faces questioning Tuesday from the Senate Banking Committee, which will decide whether he takes over as Federal Reserve chairman after Janet Yellen's term expires in February.

Powell has voted consistently with the consensus since becoming a Fed governor in 2012. During the time he has served, the central bank has ended its monthly bond-buying program known as quantitative easing and raised interest rates four times.

His prepared remarks indicate he likely will stick with the status quo of gradual, predictable increases, as well as the steady reduction of the Fed's portfolio of bonds, known as the balance sheet, that it accrued during three rounds of QE.

Fed chairs serve four-year terms.

Read more:

Trump nominee for Fed chair says he strives for a 'full recovery' in the economy

Dallas Fed president: Stock market 'excesses' pose potential threat to economy

Yellen to leave Fed after successor takes over; touts 'much stronger' financial system

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