US President Donald Trump has announced he has nominated Jerome Powell as the next chair of the Federal Reserve.
The President's nomination will be passed to the Senate for confirmation. The announcement ends months of speculation over who will take over from Janet Yellen next year, who has served as chair since 2014, with possible candidates including Kevin Warsh and John Taylor as well as the reappointment of Yellen. Powell is expected to stay the course on monetary policy if the economy continues its steady growth. "He is strong, he is committed, he is smart," Trump said yesterday when he introduced Powell as his choice, reported the New York Times. Using Powell's nickname, the Preside...
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