In the Margins

Who is Jerome Powell?

November 3, 2017

By CBS News

Jerome Powell, nominated yesterday by President Donald Trump to replace Janet Yellen as head of the Federal Reserve when her term ends in February, is a policy centrist likely to continue Yellen's cautious, pro-stimulus approach. He's set to be the first Fed chair in 40 years to not hold an economics PhD (he trained as a lawyer); he would be the richest central bank head ever, thanks to a successful career in investment banking and private equity; and he enjoys a modicum of bipartisan support. Read the original story from CBS News.