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Trump Says He'll Nominate Jerome Powell to Lead Federal Reserve

  • Yellen becomes first chair since 1979 not to be reappointed
  • She is ‘wonderful woman who’s done a terrific job,’ Trump says
Bloomberg business news
President Trump announces the nomination of Jerome Powell to be the next Fed chairman.(Source: Bloomberg)
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President Donald Trump said Thursday he would nominate Jerome Powell to be the next Federal Reserve chairman, saying he had won the respect of colleagues at the central bank and members of Congress for his judgment and intelligence.

“Jay will bring extensive private-sector experience and real-world perspective to our government,” Trump said in the White House Rose Garden. “As a result he understands what it takes for our economy to grow, and just as importantly, he understands what truly drives American success.”