Change, yet continuity: on Jerome Powell's nomination as US Fed Chief

President Donald Trump's decision to name Federal Reserve board Governor  Jerome Powell   as his pick to head the central bank signals that the businessman-turned-politician has plumped for continuity even as he ushers in change. For a President whose first nine months in office have been marked by a succession of signature appointments to key posts ranging from a Supreme Court Justice to heads of federal regulatory bodies, the investment banker suggests that Mr. trump's business instrict won.Mr Powell , who was appointed by instict won. Mr Powell, who was appointed by President barak Obama as Fed Governor in 2012 and worked alongside the incumbent Chair and worked alongside the incumbent Chair,janet Yellen, over the past five years,will represent the policy continuity in the monetary management of the world's largest economy.After all ,with the economic engine ticking over nicely and creationg jobs,and the markets buoyant, there was little reason for Mr. Trump to run the risk of choosing someone who may have altered the calibrated field approach the fed had adopted in overseeing the recovery from the global financial crisi.Two of the other short-listed probables -- Kevin Warsh and John Taylor -- had both been served in the Fed's actions.

That Mr. Powell had served in the Treasery administration means that he will ,in all likehoodf, receive bipartisan backing in the Senate.
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