What Can We Expect?

In November 2017, U.S. President Donald Trump nominated Jerome Powell to be the next Chairman of the Federal Reserve after current Chair Janet Yellen’s term expires in February 2018. Unlike Yellen, a Yale-educated economist with significant central banking experience, Jerome Powell is a lawyer and a former finance executive at The Carlyle Group who has served on the board of the Federal Reserve since 2012. Jerome Powell’s appointment as chair of the Federal Reserve is likely to have the following major economic implications.