Fed Chair update: Powell’s expected confirmation today - Nomura

Analysts at Nomura noted that Governor Powell’s nomination as the next Fed Chair cleared an important procedural hurdle in the Senate on Tuesday with a vote of 84-12. 

Key Quotes:

"As of this writing, the Senate is expected to hold the final confirmation vote this evening, which we believe will pass. 

Governor Powell’s expected confirmation today will ensure that he can take over from current Chair Yellen when her term as Chair expires on 3 February 2018. 

Chair Yellen has previously indicated that she will retire from the Board after Powell is sworn in."