Trump nominates Jerome Powell to head Federal Reserve

Reuters News
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Posted: Nov 02, 2017 3:10 PM

WASHINGTON (Reuters) - President Donald Trump on Thursday tapped Federal Reserve Governor Jerome Powell to become head of the U.S. central bank, promoting a soft-spoken centrist to replace Janet Yellen when her term expires in February.

Powell, a Fed governor since 2012, emerged as Trump's choice from a slate of possible nominees that included Yellen as well as others who would have represented a sharp change in monetary policy.

(Reporting by Jeff Mason and Howard Schneider; Editing by David Chance)