Trump to Powell: You're Hired
President Trump nominated Jerome Powell for chairman of the Federal Reserve on Thursday. If confirmed by the Senate, Powell will succeed Janet Yellen, who President Trump has publicly praised for her work in the nation’s central bank. The approach Powell will take in his new position is expected to be very similar to that of Yellen, as he is not predicted to make any drastic changes and will likely continue to support a gradual increase in interest rates. Powell was a partner at an asset management firm until appointed by former President Barack Obama in 2011 to the Fed Board of Governors, where he has served since. If confirmed, Powell will begin his term in February 2018.
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