WASHINGTON―US President Donald Trump is expected to announce his choice to lead the Federal Reserve on Thursday, a US official said Monday. Trump said last week he had “somebody very specific in mind. Trump has eagerly dismantled signature policies of the Obama administration, making Yellen, an Obama appointee, an enticing target. Trump also cooled on Cohn after the economist publicly criticized the president for his response to a deadly white nationalist rally in Charlottesville, Virginia in August. Powell is the only holdover Republican currently sitting on the Federal Reserve Board and is seen a possible consensus candidate―amenable to deregulation but unlikely to raise rates as quickly.

Source: The Standard October 30, 2017 20:03 UTC