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Economic Policy

Trump expected to nominate Powell for Fed chair

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October 30, 2017 at 4:10 p.m. EDT
The Senate confirmed Jerome H. Powell as the next chairman of the Federal Reserve on Jan. 23. He replaced Janet L. Yellen, whose term ended in February. (Video: Jhaan Elker/The Washington Post)

President Trump is expected to nominate Jerome H. Powell as the next chair of the Federal Reserve, according to two people familiar with the president's decision who spoke on the condition of anonymity.

The White House intends to announce the Fed chair selection on Thursday.

If confirmed by the Senate, Powell would begin serving as chair in February, replacing Janet L. Yellen, a Democrat whom Trump has at times praised but many Republicans wanted replaced.