Trump’s Fed nominee Jerome Powell faces confirmation hearing

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Jerome Powell says it’s no longer banks that are 'too big to fail'

Federal Reserve Chair nominee Jerome Powell answers questions during his Senate confirmation hearing.

Federal Reserve Chair nominee Jerome Powell is one step closer to becoming one of the most influential central bankers in the world. His confirmation hearing concluded on Tuesday before the Senate Committee on Banking, Housing and Urban Affairs.

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Powell, a Fed governor whose views are seen largely in-line with current Fed Chair Janet Yellen, is expected to sail through the confirmation process. Yellen tendered her resignation earlier this month and will depart as soon as her replacement is confirmed.

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FOX Business' LIVE Blog below followed Powell's comments on the U.S. economy, crypto-currencies and banking regulation which President Trump has vowed to water down.

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