Pres. Trump nominates Jerome Powell for Fed chair


(AP) – President Donald Trump’s choice to lead the Federal Reserve says he will work to make sure the Fed stays “vigilant and prepared to respond to changes” in the market.

Jerome Powell was introduced by Trump in the Rose Garden.

The nominee says the U.S. economy has made “substantial progress” since the 2008 financial crisis and the financial system is much stronger.

Powell says the Federal Reserve understands that monetary decisions “matter for American families” as he awaits confirmation by the Senate.

Trump is praising outgoing Federal Reserve Chair Janet Yellen as he chooses Fed board member Jerome Powell to lead the Fed.

The president says Yellen is “absolutely a spectacular person,” and says she has served “with dedication and devotion” and the nation is grateful to her.

If confirmed by the Senate, Powell would succeed Yellen when her term ends in February.

Yellen is the first woman to lead the Federal Reserve; she’ll also be the first Fed leader in decades to be denied a second term after completing a first. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Note: Comments containing links are not allowed.

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