Fed chair Powell taps two specialists to serve as senior advisers - report

Fed chair Jerome Powell said to have tapped monetary policy specialists Jon Faust and Antulio Bomfim to serve as senior advisers

According to the Wall St Journal, citing people familiar with the matter.

They would be the first appointments made by Powell since he took over as Fed chair two weeks ago.

The report details that Jon Faust - who is a professor at John Hopkins University - will advise Powell on a part-time basis. Faust has also previously served as a senior adviser to Bernanke and Yellen from 2012 to 2014.

Meanwhile, Bomfim will serve as a special adviser to Powell. He has previously served as an economist to the Fed from 1992 to 2003 and returned to the Fed as a senior adviser back in 2016.