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Thursday, November 2, 2017

FED NOMINE : Trump Taps Jerome Powell for Fed Chairman

FED NOMINE : Trump Taps Jerome Powell for Fed Chairman

The White House has notified Federal Reserve governor Jerome Powell that President Donald Trump intends to nominate him as the next chairman of the central bank, according to a person familiar with the matter.

The president spoke with Mr. Powell on Tuesday, according to another person familiar with the matter who couldn't describe what they discussed. 

*The president plans to formally announce the decision Thursday before he leaves for a trip to Asia on Friday. If confirmed by the Senate, Mr. Powell would succeed Janet Yellen, whose four-year term as Fed chief expires in early February.

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