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( 03 Nov 2017)
Donald Trump announces Jerome Powell as new Fed Chairman

The next Federal Reserve Chairman will be Jerome Powell, President Donald Trump officially announced Thursday in Washington, DC, said the media reports.

Confirming weeks of speculation, Trump nominated Powell to replace current Chair Janet Yellen to head the central bank.

Yellen's term expires in Febuary 1, 2018. While calling Yellen a "wonderful woman," Trump said the Fed needs "strong, steady leadership."