John YdstieJohn Ydstie has covered the economy, Wall Street and the Federal Reserve for NPR for nearly three decades.
Jerome Powell, nominated to be the next chairman of the Federal Reserve Board, testifies Tuesday during his confirmation hearing before the Senate Banking Committee.
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Fed Chair Janet Yellen on Monday submitted her resignation from the Federal Reserve Board. Earlier this month, President Trump named Jerome Powell to be the next Fed chair.
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Republicans in the House and Senate have come up with different proposals to overhaul the U.S. tax code, but both bills would add $1.5 trillion to the national debt.
J. Scott Applewhite/AP