WASHINGTON- The White House has notified Federal Reserve Governor Jerome Powell that it will nominate him as the next chair of the central bank, the Wall Street Journal reported on Wednesday, citing a person familiar with the matter.
Get weekly money news
Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday.
By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy.
The Journal said that President Donald Trump had spoken with Powell on Tuesday, a second unnamed source familiar with the matter told the newspaper.
Trump had settled on Powell to replace the incumbent Janet Yellen by Saturday, the newspaper said. A formal announcement will come on Thursday.
Yellen’s term as Fed chair expires in February 2018.
Comments