Tradelines News

Get the latest news and updates on cross-border customs and international trade.

Trump Expected to Name Pick for Fed Chair on Thursday

Posted October 30, 2017

Under Economic Issues, International Trade Issues

(Jeff Cox – CNBC)

President Donald Trump will make one of the biggest potentially market-moving appointments of his tenure Thursday, when he names his choice for the next Federal Reserve chair, White House officials told CNBC.

Markets had been expecting the president to make the nomination before he left for a foreign trip Friday.

All indications so far are that Trump is most likely to pick current Fed Governor Jerome “Jay” Powell for the position. Other leading contenders include former Fed Governor Kevin Warsh, Stanford economist John Taylor, and current Chair Janet Yellen herself.

Should he go with Powell, it would represent an opportunity for him to put his personal stamp on the central bank while also essentially staying the course Yellen has charted since she took over the position in 2014. Click here to read more.