In an address from the Rose Garden at the White House Thursday, President Donald Trumphas announced his nomination of Jerome H. Powell as the next chair of the Federal Reserve.
Powell is known as a centrist Republican who is not expected to lead any sharp change of direction for the Fed at a time when the stock market is strong and unemployment is at a 16-year low.
As a member of the Board of Governors of the Federal Reserve since 2012, Powell has supported the Fed’s ongoing strategy of gradually raising interest rates and may be friendly to the Trump administration’s plan to roll back regulations on financial firms. MORE
