Federal Reserve Chairman Jerome Powell has appointed two monetary-policy experts to serve as senior advisers.
They are Jon Faust, professor of economics at Johns Hopkins University and Antulio Bomfim, an economist in the Fed's monetary affairs division.
At the end of January, the FOMC held the first monetary policy meeting in 2018, which was the last for Fed Chair Janet Yellen. The Fed policymakers left the benchmark interest rate unchanged in a range of 1.25% to 1.5%, hinting at the continuation of the rate hike cycle in the future.
During this meeting, Jerome Powell was chosen the next chairman of the Federal Reserve, after his candidacy was proposed by President Donald Trump and approved by Congress.