Trump’s Federal Reserve Nominee: Cryptos “Don’t Really Matter Today”

The chair of the US Federal Reserve is arguably the most powerful banking role in the world Donald Trump's No, Murray Jerome Powell will attend his confirmation hearing later on Tuesday many are looking for clues about how he plans to shape us

Monetary policy so Mac Herman has more on the man set to become a global economic figure Jerome J Powell would be the first Federal Reserve Chairman in nearly four decades with a corporate background a big asset in the eyes of Donald Trump Jay will bring extensive private sector experience and real-world perspective to our Government as the richest Fed Chairman in recent memory the former investment banker is expected to favor looser regulation of some banks which complain of too many lending restrictions But Powell has been a strong defender of the feds policy to lower interest rates by increasing the supply of dollars the problems that some commentators predicted Predicted have not come to pass an accommodative policy did not generate high inflation or excessive credit growth Rather it helped restore full employment and return inflation closer to the 2% call In fact he's joined many experts who can't explain Why inflation is actually remained so low despite one of the longest growth streaks in US history? With still no recession yet in sight Trump hasn't explained his decision to deny a second term to outgoing chairwoman Janet Yellen He called her excellent in the job despite being part of Barack Obama's legacy So market analysts expect her successor to maintain a steady course I think Powell would be the closest thing to Monetary policy status quo as you can get short of or next to read AMA nating Yellen but I think Powell is the base case not Yellen because Trump has to be seen as a disrupter and an agent of change Thank you again for this extraordinary opportunity to serve the American people thank but if the economy does show signs of Overheating next year Powell and the Fed may see no choice But to step up the pace of raising the cost of borrowing money Tom Ackerman al Jazeera Wash Kingdom