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Jerome Powell rose to top of Trump's list as safe, savvy choice for Fed

Donald Trump on Thursday nominated Powell to replace Janet Yellen when her term expires in early February.

Reuters  |  WASHINGTON/NEW YORK 

Jerome Powell was not on President Donald Trump's early radar as a possible successor to Federal Reserve Chair Janet Yellen, and was angling instead for a job as the U.S. central bank's vice chair for supervision. But when he was passed over for that position last summer, it was one in a chain of events that set the stage for the 64-year-old Fed governor and former investment banker to take over as head of the world's most powerful central bank. Trump on Thursday nominated Powell to replace Yellen when her term expires in early February, saying at the White House that ...

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First Published: Fri, November 03 2017. 03:36 IST
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