Trump Reportedly Favoring Jerome Powell as Fed Chairman

October 30, 2017
Jerome Powell
President Donald Trump is reportedly going to pick Federal Reserve Governor Jerome Powell as the next chairman of the U.S. central bank, according to a Reuters report citing a "source familiar with the matter."
 
The 64-year-old Powell has been a Fed governor since 2012, and choosing Powell would be seen as offering both a change of leadership and a continuation of policies set by Fed Chairwoman Janet Yellen, whose term expires in February.
 
The president's decision could be announced as early as Thursday, and would require Senate confirmation. If Powell is chosen, it would break a longstanding tradition of a president reappointing a Fed chairperson whose initial term was set by the preceding administration.