Seems like he won't keep Yellen.


President Trump reportedly will nominate Federal Reserve governor Jerome Powell to be the next chairman of the Federal Reserve, opting for stability and continuity at the central bank, an ins ution whose performance could define his economic record.

In Powell, Trump would have a nominee with a Republican pedigree to replace Janet Yellen at the Fed’s top position but maintain the course that has yielded success in the brief time that Trump and Yellen have served in their respective roles together. Trump will nominate Powell as soon as this week, the New York Times and Politico reported Monday.
(Washington examiner)


“Powell and Yellen would be competent continuity,” said Paul Donovan, global chief economist of UBS’s chief investment office.

“We suspect that a Powell-led Fed would not be a large step away from a Yellen-led Fed and would thus represent policy continuity for markets,” echoed Peter Hooper, chief economist at Deutsche Bank.

In a speech about how emerging markets would react to the Fed normalization, Powell certainly didn’t sound like aggressive rate hikes were in store.

“One factor that favors easier adjustment in [emerging-market economies] is that U.S. monetary policy normalization has been and should continue to be gradual, as long as the U.S. economy evolves roughly as expected,” Powell told a banking conference this month.

https://www.marke ch.com/story/im...fed-2017-10-20


True to form, the Golfer in Chief is trying to make like he hasn't made up his mind.

Yellen was put in place by Obama, so she is 100% out, IMO. Trump DGAF about anything other than erasing Obama's legacy, no matter who it hurts.

That just leaves who replaces her, with this guy seeming to be the odds on favorite.