Narayana Kocherlakota, Columnist

Who Trump Will Choose to Lead the Fed

Governor Jerome Powell is the most likely nominee.

October 5, 2017 at 2:46 PM UTC

Narayana Kocherlakota is a Bloomberg Opinion columnist. He is a professor of economics at the University of Rochester and was president of the Federal Reserve Bank of Minneapolis from 2009 to 2015.

More easy money, less regulation.
Photographer: Andrew Harrer/Bloomberg

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President Donald Trump has said that he will announce his nominee to head the U.S. Federal Reserve in the next few weeks. Considering all the elements that will go into his decision, I predict that he will nominate Governor Jerome Powell.

Trump has reportedly interviewed four candidates: incumbent Janet Yellen, former Fed Governor Kevin Warsh, current National Economic Council Director Gary Cohn and Powell. As Trump and his team assess these candidates (and others), I believe they will put weight on two main considerations: