Federal reserve governor Jerome Powell will be the one to get the nod to replace janet yellen, who actually was up for it. There is a mystery here, why replace janet yellen with basically what many experts see as her identical twin when it comes to the pace, you cant be if youre a guy, fraternal twin when it comes to the pace of Interest Rate hikes . Powell in lockstep with janet yellen on just about anything. What dont we been him that makes him President Trumps number one choice . Powell would be by the way the first fed chair in four decades without an advanced degree in economics. No ph. D. Either. He is a princeton grad, law degree from georgetown and wealthiest Federal Reserve chair since 1948 with a career spanning from wall street to washington. Hes been a fed governor since 2012, a former assistant treasury secretary i believe under Nicholas Brady and former partner at private equity firm the carlyle group. Charlie gasparino in the newsroom, way out in front of the fed chair s
Andrew levin, whos professor of economics at Dartmouth College and former adviser to former fed chair ben bernanke victoria fernandez from crossmart Global Investments is in houston congratulations. Thank you. Peter costa from empire executions is sheer at pohere a9 with us. Rick santelli is at the cme. Were going to get reaction later from former Federal Reserve governor larry meyer with us and Richard Fisher well get color from them on the new nominee, the impact he will have on the Federal Reserve Going Forward. Steve, lets start with you. As we await the president , to come out of the oval office which could happen any moment here, hes considered the safe pick why . Well, i think because he doesnt want to have a huge change at all in policy. Doesnt he loves the way the markets have been behaving doesnt really want to upset that particular apple cart look, were not sure whos going to be appointed, bill, but i thought we might just talk about the bio of Jerome Powell, how about . The
Thank you very much. Please. Im pleased to welcome members of the cabinet, members of congress and distinguished guests to the white house rose garden this afternoon. Also, i want to welcome the chairman of the Senate Banking committee, who has don an incredible job, mike crapo. Good job. Appreciate it. As president there are few doingmore important than nominating leaders of integrity and good judgment to hold trusted positions in Public Office and few of those trustes positions are more important than the chairman of the Federal Reserve. Accordingly it is my pleasure and my nomination of jerome paw toll be the next chairman of the federal reserving. Congratulations. Thank you, mr. President. Jay is joined here by his wife, lissa. And his two sisters, monica and elizabeth, and i say congratulations to you all. Please, take that beau, please. You deserve it. Thank you very much for being here. Today is another important milestone on the path to restoring Economic Opportunity for the am
I am pleased to welcome members of the cabinet, members of congress and distinguished guests to the white house rose garden this afternoon. Also, i want to welcome the chairman of the Senate Banking committee, who has done an incredible job, mike crapo. Where is mike . Please, mike. Great job. Appreciate it. [applause] pres. Trump as president , there are few decisions more important than nominating leaders of integrity and good judgment to hold trusted positions in public office. Few of those trusted positions are more important than the chairman of the Federal Reserve. Accordingly, it is my pleasure and honor to announce my nomination of Jerome Powell to be the next chairman of the Federal Reserve. Congratulations. Mr. Powell thank you. [applause] pres. Trump he is joined by his wife and his two sisters, and i say congratulations to you all. Please, take that bow, you deserve it. Thank you for being here. Today is another important milestone on the past to restore Economic Opportunit