MNI BRIEF: Jay Powell To Serve Second Term As BIS GEM Chair

Federal Reserve Chair Jay Powell will continue in his role as chair of the Bank of International Settlements' Global Economy Meeting as well as the Basel-based group's Economic Consultative Committee.

In a statement Tuesday, the BIS said Powell's reappointment term would run until January 31 2026. He was first appointed on 1 February 2020. Both the GEM and the ECC are among the principal meetings held at the BIS every two months

The GEM is comprised of 30 BIS member central bank Governors in major advanced and emerging market economies that account for about four fifths of global GDP. The Governors of another 22 central banks attend the GEM as observers.