President Trump to Nominate Jay Powell the New Fed Chairman
The White House has notified Federal Reserve Governor Jerome “Jay”Powell, 64 anni, that President Trump will nominate him as the next Chairman of the central bank.
President Trump settled on Mr. Powell to replace the incumbent Janet Yellen Saturday. The formal announcement will come Thursday.
Janet Yellen’s term as Fed Chairwoman expires in February 2018, but we my see her resign soon.
Reached by phone Wednesday, Mr. Powell and Fed Chairwoman Janet Yellen declined to comment.
A Fed spokeswoman also declined to comment.
Mr. Powell is the 9th leadership change at the Fed since the end of World War II, the changeover comes at a Key time. Monetary policy is already set on a tightening course.
Mr. Powell is an ex-Treasury undersecretary and former Carlyle Group LP (NASDAQ:CG) Managing Director, he will be taking charge in the midst of a battle over how much more stimulus (QE) the US economy needs.
Expect the Senate to confirm him promptly