Economics
Powell Lauds Economy's Progress, Vows Vigilance on Market Risks
- Fed chair pick says he’ll retain tradition of independence
- Trump lauds Powell’s ‘wisdom and leadership’ in ceremony
Trump Announces Nomination of Powell to Lead Fed
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Jerome Powell, President Donald Trump’s pick to lead the Federal Reserve, talked up the strength of the U.S. economy as he pledged to guard against financial market risks.
“In the years since the global financial crisis ended, our economy has made substantial progress toward full recovery,” Powell said Thursday during a ceremony in the White House Rose Garden with Trump. “By many measures we are close to full employment, and inflation has gradually moved up toward our target.”