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Posted: December 6, 2017 at 1:58 a.m.
Updated: December 6, 2017 at 1:58 a.m.

In this Tuesday, Nov. 28, 2017, photo, Jerome Powell, President Donald Trump's nominee for chairman of the Federal Reserve, testifies during his confirmation hearing before the Senate Banking, Housing, and Urban Affairs Committee on Capitol Hill in Washington. On Tuesday, Dec. 5, 2017, the Senate Banking Committee approved Powell to be the next chairman of the Federal Reserve. (AP Photo/Carolyn Kaster)

Banking committee backs Fed chief pick

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