It appears President Trump is zeroing in on a choice for next Federal Reserve chair. Two sources told CNN on Saturday that Trump will likely name Jerome Powell to lead the central bank. For weeks there has been speculation about whether Trump would renominate current Fed chair Janet Yellen to another four-year term. Every Fed chair since 1979 has been an economist, but Powell's background is in investment banking. He's been backed by Mnuchin, who has spearheaded Trump's Fed chair search.

Source: CNN October 28, 2017 18:33 UTC