Trump nom­i­nates new Fed chair­man

The Mercury News Weekend - - OTHER VIEWS - — Fromwire re­ports

WASHINGTON » Pres­i­dent Don­ald Trump tapped Jerome Pow­ell on Thurs­day to re­place Janet Yellen as Fed chair when her term ends in Fe­bru­ary, choos­ing a moder­ate mem­ber of the Fed’s board who has backed Yellen’s cau­tious ap­proach to in­ter­est rate hikes.

Pow­ell, 64, is seen as a safe pick whose se­lec­tion will likely as­sure in­vestors hop­ing for con­ti­nu­ity at the cen­tral bank. Some an­a­lysts see Pow­ell as more in­clined than Yellen to ease fi­nan­cial reg­u­la­tions and pos­si­bly to fa­vor a faster pace of rate in­creases.

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