Donald Trump on Thursday nominated Powell to replace Janet Yellen when her term expires in early February.
Powell will replace current Fed Chair Janet Yellen
One of Powell's virtues for the job is that he understands markets
After months of public debate, analysts say Powell represented a middle-ground option for the President, who wanted to mark a departure from the Obama era
Powell, Yellen and Stanford University economist John Taylor are among those on the Republican president's short list