Powell is favorite as Trump nears Fed decision

Powell — a Fed governor, former Treasury Department undersecretary and investment banker — appears to be Trump’s most likely choice to lead the central bank.

Powell had overseen the Fed’s financial regulatory efforts until the confirmation of Fed governor Randy Quarles, and earned the support of Treasury Secretary Steven Mnuchin though their working relationship.

He’s also the rare Obama appointee that would gain support from Senate Republicans, and had previously been confirmed by a Democrat-controlled Senate. He could be Trump’s best bet to reshape key financial regulatory and monetary policy with little Democratic resistance.

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