Jerome Powell been serving as a governor at the Federal Reserve since President Barack Obama nominated him to the role in 2012, but Trump is elevating Powell to take over the Federal Reserve on Febrary 5th, 2018 replacing Janet Yellen. I read a story in the Washington Post that soothed my concern on replacing Janet Yellen, the economy is booming and she certainly has a hand in it. Powell seems just like the man we need in the most powerful economic position. Hes a mild mannered republican who has never lost his temper and shows compromise. He left a fancy position to work for $1 a year to walk the halls of Congress urging everyone to work together! He has a reputation with many and I feel that Trump has appointed a man that will bring Congress together as we continue to work on our booming economy.
The good news is in the first meeting they did not change interest rates. It's suggested they will, but when?