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Trump likely to appoint Jerome Powell as head of central bank

Monitoring Desk

WASHINGTON: United State President Donald Trump is expected to appoint Jerome Powell as the next head of the US central bank; the American media reported and confirmed it from a source familiar with the matter.

Donald Trump considering Jerome Powel, current Fed Chair Janet Yellen, and three others for the top central bank job and he will likely announce his decision on Thursday, a White House official confirmed to local media.

The media reported the Jerome Powel is expected to be appointed as he is in the top of the list of President Trump.

Powell, 64, has supported Yellen’s general direction in setting monetary policy and recently he showed concern over the weak inflation justified a continued careful approach to raising interest rates.

Chief economist at Wells Fargo, John Silva told that Powell has not offended people, and that’s a huge advantage in Washington. He’s the kind of guy who can get through Senate confirmation and this administration has so many other problems to deal with.

 

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