I don’t know much about Jerome Powell, but I do know he can’t be nearly as bad as Janet Yellin. Based on what I’ve read about Powell so far, he sounds like a centrist, which is much better than the far left extremist policies of Yellin.
| Janet Yellin to be replaced by Jerome Powell |
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President Trump is expected to nominate Federal Reserve Board Governor Jerome Powell on Thursday to be the central bank’s new chairman, according to multiple media reports.
The White House said today that Trump would name his pick for chairman next Thursday, following reports from Politico and Bloomberg that the president would nominate Powell on November 2.
The New York Times and Washington Post also reported Trump’s choice, citing people familiar with the discussions.
Powell would replace current Fed Chair Janet Yellen, a Democrat, who in 2014 became the first woman to lead the bank.
Trump is reportedly choosing from among Powell, Yellen, and Stanford University economist John Taylor to lead the Fed after Yellen’s term ends in February.