Trump To Announce Pick For Fed Reserve Chair Next Week

The Federal Reserve Building on Constitution Avenue in Washington is seen Wednesday, Aug. 2, 2017, in Washington. The headquarters of the Federal Reserve System was constructed in 1936 in the wake of the Great Depres... The Federal Reserve Building on Constitution Avenue in Washington is seen Wednesday, Aug. 2, 2017, in Washington. The headquarters of the Federal Reserve System was constructed in 1936 in the wake of the Great Depression. (AP Photo/Pablo Martinez Monsivais) MORE LESS
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WASHINGTON (AP) — President Donald Trump’s press secretary says Trump plans to announce his choice for the next chairman of the Federal Reserve next week. But his press secretary, Sarah Huckabee Sanders, wouldn’t discuss reports that the leading candidate is Jerome Powell, a member of the Fed’s board.

Asked about reports that Janet Yellen won’t likely be offered a second term as Fed chair and that Trump is instead leaning toward Powell, Sanders said, “I can confirm that the president plans to make an announcement on that next week, but beyond that I don’t have any other details to add.”

Yellen’s term ends in February. Trump this week said his choice was down to “two and maybe three people,” who are thought to be Yellen, Powell and John Taylor, a Stanford University economist.

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Notable Replies

  1. Fed Chair Greeenspan’s former sidekick Professor Alan Blinder said today that Powell would be pretty much a continuation of Yellen’s policies.,at least for the first part of his term. Apparently most financial people in and out of banking would prefer Yellen be left in. One of the CNBC guys said Taylor, a Stanford/Hoover Institution monetary theorist, would be a “showman’s choice” on Trump’s part. Which IMO we can do without.

  2. Who is the least qualified?

  3. “Federal Reserve Chairman Harold N. Bornstein.”

  4. Avatar for wwss wwss says:

    My money is on Jared!

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