Trump has nominated Jerome Powell to head the Federal reserve
WASHINGTON, Nov 2 — RIA Novosti. The US President Donald trump has nominated Jerome Powell to head the Federal reserve — the American Central Bank.
The US President announced his decision to reporters in the Rose garden of the White house, Powell attended the speech.
“In the short time we have achieved incredible success. Unemployment is at the lowest level in 16 years. We have two quarters with growth (of the economy) 3% is a great achievement, and we are doing better every week,” said trump.
According to the President, “to support this tremendous progress in the economy, it requires a strong monetary policy and prudent oversight of our banking system”. “So we need a solid, durable, steady leader at the head of the Federal reserve,” he added, noting that Powell has precisely these qualities.
The nomination of Powell to approve the Senate of the United States.
Powell is an investment banker and former Deputy Treasury Secretary. Since 2012 member of the Board of governors of the Federal reserve.
Nominirovan Powell, trump violated the tradition that presidents in the first term is usually extended the powers of the incumbent head of the fed.
The term of current fed Chairman Janet Yellen is set to expire in February 2018.
Trump in the election campaign repeatedly criticized the fed and Yellen personally for a policy of low base rates, assuming in particular that Yellen succumbed to the political pressure of the previous administration of Barack Obama.