Trump Nominates Powell To Replace Yellin At Fed

US President Donald Trump on Thursday nominated on Jerome H. Powell of Maryland to be Chairman of the Board of Governors of the Federal Reserve System for a term of four years beginning February 3, 2018.

According to the White House, “As a member of the Federal Reserve’s Board of Governors since May 2012, Mr. Powell has demonstrated steady leadership, sound judgment, and policy expertise.”

In a statement, the White House said that Powell “will bring to the Federal Reserve a unique background of Government service and business experience”

Powell previously served as Under Secretary at the Department of Treasury in the administration of President George H.W. Bush.

Powell also has nearly three decades of business experience. He attended Princeton University where he received a Bachelor of Arts in Politics in 1975 and continued his studies at Georgetown University, where he earned a Juris Doctor. While at Georgetown, Powell served as the editor-in-chief of the Georgetown Law Journal.