US President Donald Trump has announced the name of Jerome Powell as the new president of the country's central bank from February 2018.
Jerome Hayden "Jay" Powell was announced this Thursday as the 16th president of the US Federal Reserve. As expected, Donald Trump named the Republican of 64, who has been at the Fed since May 25, 2012, as the successor to Janet Yellen. In recent times, several had been the advanced names, but Powell was to be more unanimously pinpointed since the beginning of the week was that of Jay Powell as it is known. Trump thanked Janet Yellen, who said she was a "spectacular person," and considered that "Jay will be able to lead the economy through any challenges," saying he hopes the Senate will confirm it.
If Powell confirmed by the Senate, he will be the first president of the Fed, in almost four decades (since 1981), which is not licensed in Economics [but in Law], as Fortune points out. And it will be the first time in four decades that a Fed chairman has not served a second term.
Jerome Hayden "Jay" Powell was announced this Thursday as the 16th president of the US Federal Reserve. As expected, Donald Trump named the Republican of 64, who has been at the Fed since May 25, 2012, as the successor to Janet Yellen. In recent times, several had been the advanced names, but Powell was to be more unanimously pinpointed since the beginning of the week was that of Jay Powell as it is known. Trump thanked Janet Yellen, who said she was a "spectacular person," and considered that "Jay will be able to lead the economy through any challenges," saying he hopes the Senate will confirm it.
If Powell confirmed by the Senate, he will be the first president of the Fed, in almost four decades (since 1981), which is not licensed in Economics [but in Law], as Fortune points out. And it will be the first time in four decades that a Fed chairman has not served a second term.
