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Trump likely to name Jerome Powell as new Fed chair

Trump likely to name Jerome Powell as new Fed chair
For over a week, Powell has topped the list of Fed chair candidates

Mubasher: US President Donald Trump is expected to name Jerome Powell as the new chair for the US central bank on Thursday, US media reported. 

This comes after Trump held interviews with five other candidates, including the current chair Janet Yellen.

If confirmed by the Senate, Powell will be the next US Federal Reserve chair replacing Yellen, whose term ends in February.

For over a week, Powell has topped the list of Fed chair candidates and has been viewed as a safe pick.

"I think you'll be extremely impressed by this person," Trump said, according to the Independent.

A Republican and multi-millionaire, Powell is a lawyer and former partner in the Carlyle Group, one of the biggest investment companies around the world.

Jerome Powell, a Republican and multi-millionaire, is already a member of the Federal Reserve's board.