Jerome Powell, who has already spent five years at the Federal Reserve as governor, could soon be elevated to that top job. He has emerged as the favourite to replace Janet Yellen as chairman of the central bank after President Trump concluded interviews with five candidates this week. White House officials believe that Mr Powell, a former investment banker and adviser to George Bush Sr, is the right mix of monetary policy dove and financial regulation hawk. On Thursday night Mr Trump met Ms Yellen for about half an hour. It was the last of a series…

Source: The Times October 20, 2017 15:56 UTC