Monday, October 30, 2017

Trump Expected to Nominate Jerome Powell as Federal Reserve Chairman

Multiple news outlets indicate that President Trump is expected Thursday to nominate Jerome "Jay" Powell to head the Federal Reserve.

Powell is currently a Fed governor. Prior to joining the Fed, from 1997 to 2005, Powell was a partner at The Carlyle Group.

Powell appears to be the preferred choice of Goldman Sachs as, former Goldman Sachs partner and current Treasury Secretary, Steve Mnuchin has been pushing for a Powell nomination.

 It is expected that Powell would maintain the slow rate hike policy of current Fed chair Janet Yellen.

If confirmed by the Senate, Powell would replace Yellen, when her term ends on February 3, 2018.


No comments:

Post a Comment