President Donald Trump is leaning toward appointing Fed Governor Jerome Powell to be the next chairman of the central bank, according to a report by Bloomberg quoting three people familiar with the matter. After Trump’s public comments on the race for Fed chair, Powell and Stanford economist John Taylor have been seen as the two front-runners for the top Fed job. Powell has been a Fed governor since 2012. While Powell has been a supporter of Fed Chairwoman Janet Yellen’s interest-rate policy, he is seen as more sympathetic to White House’s stance on bank deregulation. U.S. Treasury yields, notably the benchmark 10-year Treasury note , saw yields dip lower after the report.
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