– U.S. President Donald trump has chosen the new head of the Federal reserve system Jerome Powell.
“Powell has the wisdom and leadership qualities to control the economy,” said D. trump.
Powell will be succeeding Janet Yellen, who served as fed Chairman since the beginning of 2014.
After the President has chosen a new head of the fed, his nomination must be approved by the U.S. Senate.
Prior to his selection by President Powell regulate the financial markets as one of the governors of the fed. He was appointed a member of the Federal reserve Board under the previous President Barack Obama in 2012.