Economics
Trump Selects Powell for Fed Chairman, Replacing Yellen
- Republican was appointed to Fed’s board by Obama in 2012
- Seen bringing continuity on rates, sympathy with deregulation
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President Donald Trump plans to nominate Federal Reserve Governor Jerome Powell to the top job at the U.S. central bank, according to four people familiar with the decision.
In Powell, he’ll select a former private-equity executive who favors continuing gradual interest-rate increases and sympathizes with White House calls to ease financial regulations. The president will announce his decision Thursday at 3 p.m. Washington time from the Rose Garden, the White House said in a statement. Powell declined to comment when approached by a reporter outside his Washington-area home.