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Trump to name Powell as next Fed chairman

by Lynde Langdon
Posted 11/02/17, 12:50 pm

President Donald Trump is expected to name Federal Reserve board member Jerome Powell to succeed Chairwoman Janet Yellen when her term expires in 2018. Powell, 64, has supported Yellen’s cautious approach to raising interest rates. He spent years working at investment firms, but unlike the past three Fed leaders doesn’t have a doctorate degree in economics. Investment strategist Mona Mahajan of Allianz Global Investors said Powell, like Trump, might be more inclined than Yellen to relax some of the stricter regulations that were imposed on banks after the 2008 financial crisis. “He wants to ease some of the Dodd-Frank rules and relieve some of the pressure on the region and community banks,” Mahajan said.

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Lynde Langdon

Lynde is a WORLD Digital assistant editor and reports on popular and fine arts. She lives in Wichita, Kan., with her husband and two daughters. Follow Lynde on Twitter @lmlangdon.

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  • PaulC
    Posted: Fri, 11/03/2017 01:32 am

    Editors:  Would you consider articles about the origin of the Federal Reserve Board, or reviewing books on that subject?  Would that be a prohibited subject.  Is the knowledge that the Federal Reserve Board, often abbreviated "The Fed"  has NO constitutional basis a taboo subject?  I have only read The Creature from Jekyll Island.   Are there others?