President Donald Trump described Jerome Powell, his pick for Federal Reserve chairman, as a “consensus builder”President Donald Trump on Thursday nominated Federal Reserve Governor Jerome “Jay” Powell to lead the US central bank, saying the former investment banker has the wisdom and intelligence to guide the world’s largest economy. “Powell allows Trump to change the Fed leadership without changing the basic monetary policy strategy. In another break with tradition, Powell is not a trained economist. Trump and Powell offered extensive praise for Yellen, who they said demonstrated judicious economic stewardship during the current recovery. “I am confident in his deep commitment to carrying out the vital public mission of the Federal Reserve,” Yellen said in a statement.

Source: Manila Times November 02, 2017 21:56 UTC