President Trump on Thursday officially nominated Federal Reserve Governor Jerome Powell to replace Janet Yellen as chair of the U.S. central bank. Powell, a Republican, was first appointed to the Fed by President Obama in 2012 and served as Treasury Department undersecretary under George W. Bush. “He’s strong, he’s committed, he’s smart,” Trump said. “Based on his record, I am confident that Jay has the wisdom and leadership to guide our economy through any challenges that our great economy will face.”
