FED Nominee : President Trump Formally Picks Jerome Powell to Lead Federal Reserve

FED Nominee : President Trump Formally Picks Jerome Powell to Lead Federal Reserve

President Donald Trump formally announced Thursday that he would nominate Federal Reserve governor Jerome Powell to be the next chairman of the central bank, saying he has the "wisdom and leadership" to guide the economy through any turbulence that arises.

If he wins Senate confirmation, Mr. Powell will succeed the incumbent Fed chairwoman, Janet Yellen. Ms. Yellen was one of five finalists for the job, and Mr. Trump notified her earlier Thursday that she wouldn't be reappointed, a White House aide said.

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