WASHINGTON (dpa-AFX) - President Donald Trump plans to announce his nominee as the next Federal Reserve Chair on Thursday, White House officials have told the media.
Multiple media sources have reported that Trump intends to nominate Fed Governor Jerome Powell to replace current Fed Chair Janet Yellen.
Powell, Yellen and Stanford University economist John Taylor were said to be among the leading candidates to be nominated to head the central bank.
The nomination of Powell would purportedly provide continuity at the Fed, as he has previously supported Yellen's general direction in setting monetary policy.
Meanwhile, Taylor has been more critical of Yellen and is said to be a favorite of conservative Republicans.
Trump previously suggested he would consider nominating Powell as Fed Chair and Taylor as Fed Vice Chair.
In a post to Twitter last Friday, Trump noted people are 'anxiously awaiting' his decision on the next Fed Chair and indicated a 'big announcement' will be made this week.
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