President Donald Trump said Nov. 2 he would nominate Jerome Powell to be the next Federal Reserve chairman, saying he had won the respect of colleagues at the central bank and members of Congress for his judgment and intelligence.
“Jay will bring extensive private sector experience,” Trump said. “As a result he understands what it takes for our economy to grow” and “what truly drives American success.”
In Powell, Trump selected a former private-equity executive who favors continuing gradual interest-rate increases and sympathizes with White House calls to ease financial regulations.
If confirmed by the Senate, the 64-year-old would succeed ...
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