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Trump names 'safe' choice Jerome Powell to lead US Fed: 5 questions answered

As the engine behind the world's most important economy, the Fed's influence is hard to overstate

Jerome Powell
Jerome Powell

Editor’s note: Markets breathed a sigh of relief after President Donald Trump named Jerome Powell his pick to be the next chair of the Federal Reserve. If confirmed, Powell – considered a “safe” choice – would take over from current Chair Janet Yellen in February, becoming one of the world’s most powerful people. So what’s the big deal? Economist Greg Wright explains why who leads the U.S. central bank matters to us all. What does the Fed do? The Federal Reserve oversees all banks and financial institutions based in the U.S., including ...