Trump’s Fed chair choice largely down to Powell or Taylor

President Trump has largely settled on nominating either former investment banker Jerome “Jay” Powell or Stanford University economist John Taylor to be chairman of the Federal Reserve, three people briefed on the process said, setting the stage for what could be one of the most consequential economic decisions of his administration…

Powell is a Fed governor who has supported current chair Janet L. Yellen’s cautious pace of raising interest rates.

Taylor, a conservative economist, beloved by congressional Republicans for years, is considered more hawkish on fighting inflation, and many economists believe he would move more quickly to raise interest rates than Powell.