Senate panel sets November 28 confirmation hearing for Fed chair nominee PowellWASHINGTON (Reuters) - The U.S. Senate Banking Committee will hold a confirmation hearing on Nov. 28 for Jerome Powell, President Donald Trump’s nominee for chairman of the Federal Reserve, the committee said in a statement on Wednesday. Trump last week tapped Powell, 64, a Fed governor since 2012, to become head of the U.S. central bank, breaking with precedent by denying Janet Yellen a second four-year term but signaling a continuation of her cautious monetary policies. Powell is quickly garnering support from Republican lawmakers, including Senate Majority Leader Mitch McConnell, who met with Powell on Tuesday and said he looked forward to “supporting his nomination.” Republican Senator Mike Crapo, who chairs the Banking Committee, said on Wednesday that Powell was “well-equipped to lead our economy and the country in a positive direction.” Powell is widely expected to continue to raise interest rates gradually, as Yellen began to do in late 2015, and to shrink the central bank’s $4.5 trillion balance sheet. politicsNews
senate panel sets november confirmation hearing fed chair nominee powellwashington reuters the senate banking committee hold confirmation hearing jerome powell president donald trump nominee chairman federal reserve committee said statement wednesday trump last week tapped powell fed governor since become head central bank breaking precedent denying janet ellen second term signaling continuation cautious monetary policies powell quickly garnering support republican lawmakers including senate majority leader mitch mcconnell met powell tuesday said looked forward supporting republican senator mike crap chairs banking committee said wednesday powell lead economy country positive powell widely expected continue raise interest rates gradually ellen began late shrink central bank trillion balance sheet politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Senate panel sets November 28 confirmation hearing for Fed chair nominee PowellWASHINGTON (Reuters) - The U.S. Senate Banking Committee will hold a confirmation hearing on Nov. 28 for Jerome Powell, President Donald Trump’s nominee for chairman of the Federal Reserve, the committee said in a statement on Wednesday. Trump last week tapped Powell, 64, a Fed governor since 2012, to become head of the U.S. central bank, breaking with precedent by denying Janet Yellen a second four-year term but signaling a continuation of her cautious monetary policies. Powell is quickly garnering support from Republican lawmakers, including Senate Majority Leader Mitch McConnell, who met with Powell on Tuesday and said he looked forward to “supporting his nomination.” Republican Senator Mike Crapo, who chairs the Banking Committee, said on Wednesday that Powell was “well-equipped to lead our economy and the country in a positive direction.” Powell is widely expected to continue to raise interest rates gradually, as Yellen began to do in late 2015, and to shrink the central bank’s $4.5 trillion balance sheet. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: senate panel sets november confirmation hearing fed chair nominee powellwashington reuters the senate banking committee hold confirmation hearing jerome powell president donald trump nominee chairman federal reserve committee said statement wednesday trump last week tapped powell fed governor since become head central bank breaking precedent denying janet ellen second term signaling continuation cautious monetary policies powell quickly garnering support republican lawmakers including senate majority leader mitch mcconnell met powell tuesday said looked forward supporting republican senator mike crap chairs banking committee said wednesday powell lead economy country positive powell widely expected continue raise interest rates gradually ellen began late shrink central bank trillion balance sheet politicsnews