The new head of Federal Reserve System assumes office

Baku. 5 February. REPORT.AZ/ The new head of the US Federal Reserve System (Fed), Jerome Powell, assumes today his duties.

Report informs referring to the Bloomberg, Powell will remain in this post for four years.

Notably, Powell's entry into office falls to the period when US stock exchanges faced the most severe recession in the last two years, the yield of US government bonds reached a maximum in last four years, the world economy accelerated, a need raised to increase the discount rate.

Analysts predict that the Fed will raise the rate 3 times this year. Forecasts of Fed members coincide with the assumptions of market participants.