Trump nominates Jerome Powell to head U.S. Federal Reserve

President Donald Trump on Thursday tapped Federal Reserve Governor Jerome Powell to become head of the U.S. central bank, promoting a soft-spoken centrist to replace Janet Yellen when her term expires in February.

Powell, a Fed governor since 2012, emerged as Trump`s choice from a slate of possible nominees that included Yellen as well as others who would have represented a sharp change in monetary policy.

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