Trump nominates Fed’s Powell to lead U.S. central bank


Reuters/Howard Schneider/11-02-17

President Donald Trump on Thursday tapped Fed Governor Jerome Powell to become head of the U.S. central bank, promoting a soft-spoken centrist to replace Janet Yellen when her term expires in February 2018.

…Powell, a 64-year-old lawyer and former investment banker, has backed Yellen’s general direction on monetary policy and, in recent years, shared her concerns that weak inflation justified a continued cautious approach to raising interest rates.

PG View: The status quo nominee gets the nod, as was widely expected.

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