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Donald Trump may name Jerome Powell as next Fed Chair: Bloomberg

Trump said on Monday that he was "very, very close" to making a decision on who is going to lead the central bank

IANS  |  Washignton 

Federal Reserve Governor Jerome Powell
Federal Reserve Governor Jerome Powell

US President is leaning toward nominating Federal Reserve Governor as the next leader of the central bank, Bloomberg News reported on Friday.

Citing three people familiar with the matter, Xinhua reported that the decision isn't final and Trump could change his mind at any time.

Trump has recently finished interviews of five candidates for the next Fed Chair, including Powell, Stanford University economist John Taylor, former Fed governor Kevin Warsh, White House National Economic Council Director and current Fed Chair Janet Yellen, whose term expires next February.

Trump said on Monday that he was "very, very close" to making a decision on who is going to lead the central bank.

Trump's advisors have been steering him toward choosing either Powell or Taylor for the job. Powell is favoured by Treasury Secretary Steven Mnuchin, while Taylor is favoured by Vice President

While Powell and Taylor are both Republicans, they would have much different approaches to running monetary policy at the central bank.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sat, October 28 2017. 12:48 IST
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