As the President keeps everyone in suspense about his choice to be the next chairman of the Federal Reserve, Bloomberg reports he is leaning in one direction.
Three people familiar with the matter say he is likely to tap Federal Reserve Governor Jerome Powell to be the next chair, a move that would likely ensure a continuation of Yellen’s policy direction. Powell was appointed by Obama and is seen as backing Yellen’s gradualist approach.
Stanford University economist John Taylor was another top contender, representing a hawkish contrast to Yellen and Powell. He received a thumbs up from Republican lawmakers during a lunch with Trump earlier this week.
The sources stressed that the final decision has not yet been made and Trump could change his mind at any time.