The 64-year-old lawyer and former investment banker is currently governor of the US central bank.
US President Donald Trump nominated Jerome Powell on Thursday (Nov. 2) to be the next head of the Federal Reserve.
The 64-year-old lawyer and former investment banker is currently governor of the US central bank.
In an announcement at the White House, Trump described him as a strong, committed and smart leader.
The decision, which ends an unusually public, months-long search, arguably gives Trump the best of both worlds: It allows him to get a new Fed chief while getting continuity with a Janet Yellen-run central bank that has kept the economy and markets on an even keel.
Powell, appointed to the Fed board in 2012 by then-President Barack Obama, emerged as Trump’s choice from a five-person slate of possible nominees that included Yellen, as well as others who would have represented a sharp change in monetary policy.
