The US Senate has confirmed a second four-year term as chair of the Federal Reserve for Jerome Powell.

Mr Powell has been on the board of governors of the US central bank since 2012 and was first appointed by Donald Trump.

Mr Powell was renominated by US President Joe Biden, backed by a tally of 80 senators. Only 19 opposed.

In his first term, Mr Powell dealt with the Covid-19 pandemic as well as the 2020 recession. 

Now, challenges still prevail. US inflation is currently at a multi-decade high...