Sina US Stock Exchange Beijing time in the early morning of the 20th, the US political media Politico quoted three unnamed administration officials as saying that Federal Reserve Governor Powell (Jerome Powell) is the "leading candidate" for the chairman of the US Central Bank, and Trump is more inclined to choose him.
According to the report, Trump has not made a final decision, but Treasury Secretary Nuchin is heavily inclined to Powell.
Powell, 64, a former partner at Carlyle; his current term as a Fed governor ends in January 2028, and has had no objection to the FOMC vote since taking office in May 2012.
Powell (Jerome Powell), current governor of the Federal Reserve
Experience: lawyer, investment banker, partner of private equity firm Carlyle Group from 1997 to 2005; senior Treasury official under former President George H. W. Bush and Fed governor since 2012 (appointed by then President Barack Obama)
Education: bachelor of political Science from Princeton University, Law degree from Georgetown University
Policy stance: Powell, who never voted against the Fed during his tenure, sided with Yellen in supporting a gradual rise in interest rates as long as the economy continues to grow and inflation expectations will rise. He advocated relaxing some of the controls on the Dode-Frank Act and discussed ways to change the Volcker rules.
"the patience of the committee in raising interest rates has borne fruit," he said. I think it is appropriate to continue to raise interest rates slowly. "
Competitive advantage:
* non-controversial candidates can replace Yellen and provide a compromise of policy continuity.
* the only Republican among the Fed's current governors has helped guide the economic recovery and is likely to gain bipartisan support in Congress.
* familiarity with the market and financial regulation may be regarded as a bonus.
Competitive disadvantage:
* if Trump is going to replace Yellen, the centrist Republican Fed governor may not have changed enough.
* Market and financial regulation is more professional than economic theory and may seem to overlap with Randal Quarles, the new Fed vice chairman of financial regulation.