Powell Close To Fed Chairman Renomination

Nominated for the post by Donald Trump in 2017, Jerome Powell is expected to be renominated for another four-year term as Chairman of the Federal Reserve. Given recent history, an announcement could come before the Fed’s next meeting in November. The markets would favor such a move as it would provide consistency in an uncertain economy. Keith Lerner of Trust Advisory Services said, “he’s a known quantity…In general, I think the Street has a positive view.” The news sent the Dow Jones Industrial Average up over a percent on Thursday.