The AP: Trump to announce Jerome Powell as next Fed chairman
WASHINGTON — President Donald Trump has selected Federal Reserve board member Jerome Powell as the next chairman of the nation’s central bank, succeeding Janet Yellen, two senior administration officials said Thursday.
Trump plans to make the announcement later in the day at a White House ceremony, said the officials, who spoke on condition of anonymity to discuss the president’s decision before the formal announcement.
After a search that was more public than any before n the Fed’s more than a century of history, Trump’s choice of the 64-year-old Powell will likely be seen as a safe choice who could represent continuity at the Fed.
Trump had considered re-nominating Yellen, the first woman to lead the central bank, for a second four-term term. Her term will end in February. But in the end, he opted for Powell, a Republican, over Yellen, a Democrat, explaining last week that doing so would allow him to put his own mark on the Fed.