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.
Powell, a Republican, has been a governor on the Fed’s board since 2012, and he was assigned to lead the bank’s Wall Street oversight committee back in April.
Trump has yet to make a formal decision, but the White House said he’d announce his choice next week. He could still change his mind, the sources said.
His apparent lean toward Powell is a major development. For weeks there has been speculation about whether Trump would renominate current Fed chair Janet Yellen to another four-year term.
Yellen was nominated by President Obama in 2013, and her current term expires in February 2018.
SOURCE: Kevin Liptak and Jackie Wattles