Powell, the 16th person to hold the position, was nominated by President Donald Trump in November. However, the yields on government bonds are now at several-year highs, and the stock market ended Friday's extremely hard week in which Dow Jones lost 666 points on Friday.
The financial system is now "much better capitalized" and the banking system "more resilient" than they were entering the global financial crisis a decade ago, Yellen said.
Powell took the oath of office one day after his 65th birthday from Randal Quarles, the Fed's vice chairman for supervision, in a ceremony that was attended by Fed staff and Fed board member Lael Brainard.
"I've worked with Gov. Powell for five years, very constructively", Yellen said.
The first challenge facing Powell as Fed chair is "working out how to achieve growth that is both adequate and financially sustainable", former U.S. Treasury Secretary Lawrence Summers, also an economic professor at Harvard University, tweeted.
He has steadily supported Ms Yellen's approach to monetary policy and financial regulation, creating an expectation that he would be unlikely to attempt large or sharp changes in the Fed's course.
However, In 2017, Powell also said he wanted to preserve core pieces of the 2010 Dodd-Frank regulatory law, which he helped to implement, that includes strong capital requirements and annual stress tests for banks, the reports.
President Donald Trump's State of the Union address, the Federal Reserve's monetary policy meeting and the U.S.jobs report. Nasdaq 100 futures climbed 0.4%, as Apple (AAPL) dragged lower and despite gains by all four FANG stock tech leaders.
The injury decimates what was the most intimidating front line in basketball, and ends what was a magical season for Cousins . Chris Paul , Eric Gordon and James Harden combined for 88 points and 21 assists in the Rockets loss to the Pelicans .
After a recess of almost a month, the session will resume from 5th March and will go on till 6th of April. JD (U) leader Harivansh Narayan Singh said that grave issues concerning the nation were discussed.
The Bucks used a big second quarter to build a 19-point half-time lead, sending Chicago to their fourth straight loss. After a few minutes with teammates and trainers surrounding him, a stretcher took him off the floor.
He said several European Central Bank policymakers at a meeting on Thursday had questioned a change in US policy. Stimulus withdrawal has been much discussed in markets because the eurozone economy is growing strongly.
Meanwhile, the Indian Army claimed that the troops opened fire in self-defense after their convoy came under heavy stone pelting. The Army said its personnel had fired in self-defence after a junior level officer fell unconscious following the attack.
Kremlin press secretary Dmitry Peskov dismissed the Dutch reports on Friday, denouncing them as unreliable. And it was the information that they were able to provide to the United States shed light on Cozy Bear .
4400 year old Tomb of an ancient woman has been discovered
Minister Anani said he was hopeful of further discoveries at the site, which is located about 20km (12 miles) south of Cairo. The famous Egyptian archeologist Zahi Hawass has previously discovered a group of ancient Egyptian tombs in this area.
Former Temptations Singer Dennis Edwards Dies at Age 74
As a teen, Edwards sang gospel, but, like Sam Cooke and many other prominent gospel performers, he turned to rhythm & blues. According to Rolling Stone , Dennis was best known as a lead singer of legendary Motown music group the Temptations .
U.S. adds Hamas leader to list of global terrorists
Haniyeh responded to that announcement with a call for a "comprehensive, popular intifadah" to confront Israel and the US. The United States has designated Ismail Haniya, the senior political leader of Hamas, as a "global terrorist".
Witness The Rare Super Blue Blood Moon on Jan 31
It's the ideal mashup with the full moon on its closest orbit to earth, and earth's shadow covering up the face of the moon. All of Alaska will be able to see the eclipse, weather-willing. "They don't necessarily line up with each other".
US President Imposes Solar Panel Tariff, Solar Stocks React
What it will do, however, is put a crimp in one of the USA economy's big success stories, the rapid growth of renewable energy. On the fuel front, the US doesn't have much to lose. "Texas has all the fundamentals you're looking for in a solar market".
Led Syrian peace talks resumed in Vienna
The opposition will decide in the next two days whether to attend Sochi, its chief negotiator Nasr Hariri, said on Wednesday. Turkey, which has aided Syrian opposition forces, cooperated with Russian Federation for the peace conference.