ALSO READNew Federal Reserve chairman has an economic tailwind Donald Trump may name Jerome Powell as next Fed Chair: Bloomberg Decision today: Is Trump all set to pick Jerome Powell as next Fed chair? Yellen defends legacy amid uncertainty Will Yellen remain Fed chair? Trump to decide by early Nov; 5 names in fray
President Donald Trump today nominated Federal Reserve Governor Jerome Powell to lead the US central bank.
Powell, who must be confirmed by the Senate, will replace current Fed Chair Janet Yellen when her term at the helm of the central bank expires in February.
Trump said Powell is "strong, committed and smart," and has the "wisdom and leadership to guide" the US economy.