Donald Trump has notified Jerome Powell that he will be announced as the next chair of the Federal Reserve, according to CNBC.
Powell has been a Federal Reserve Governor since 2012, and is a Republican well associated with the financial industry. It has followed an untraditionally public selection process for the chair position.
Trump is expected to officially announce the decision on Thursday.
- CNBC confirms that Donald Trump has officially nominated Powell as the new Fed chairman during a press conference.
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