Trump reported to nominate Jerome Powell as Fed chair on Thursday

Currently sits as a Federal Reserve governor

Zeroing in on a more specific day this week, White House officials said President Donald Trump will announce his Federal Reserve chair nominee on Thursday, according to an article in Reuters by Steve Holland.

So who is Trump most likely to tap?

A source familiar with the matter said in the article that Trump is likely to pick Federal Reserve Governor Jerome Powell.

Trump first revealed in an Instagram video a few days ago that he would be announcing the news sometime this week.

“I have someone very specific in mind. I think everyone will be very impressed,” Trump said in the video. 

This isn’t the first time Powell’s name has been tossed into the running for the next Fed Chair. However, the list of potentials also includes other names such as current Fed Chair Janet Yellen.

From the article:

By picking Powell, a soft-spoken centrist and Fed governor since 2012, Trump would get the combination of a leadership change and the continuity offered by somebody who has been a part of the Yellen-run Fed that has kept the economy and markets steady in recent years.

“Powell has not offended people, and that’s a huge advantage in Washington. He’s the kind of guy who can get through Senate confirmation, and this administration has so many other problems to deal with,” said John Silva, chief economist at Wells Fargo.

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