And Mr. Trump has praised Ms. Yellen’s performance: During her four years, unemployment has fallen sharply, inflation has remained low and the economy is growing. “You like to make your own mark,” Mr. Trump said last week, by way of explanation. In choosing Mr. Powell, however, Mr. Trump would be resisting pressure by conservatives to make a larger mark on the Fed’s management of the economy. Mr. Powell, by contrast, has voted for every Fed policy decision since 2012, although he expressed some reservations in internal debates about the extent of those efforts. A survey of 144 investors conducted by Evercore ISI found that they expected that Mr. Powell would push rates modestly higher than Ms. Yellen over time.

Source: New York Times October 30, 2017 19:07 UTC