President Trump is expected to name Federal Reserve board governor Jerome Powell as the next chair of the U.S. central bank on Thursday. Federal Reserve Chair Janet Yellen's term expires in February 2018. Powell is largely considered to be a safe pick that "signal[s] continuity with the current low-interest rate environment and take-it-slow approach that Yellen has overseen," Business Insider writes.
Still, whoever Yellen's successor, economists warn that the job ahead won't be easy. "Faster rate hikes could cool the stock market but risk holding inflation below the central bank’s target, possibly tipping the economy into a recession," Bloomberg writes. "Tightening too slowly could stoke asset values even further, creating trouble down the road. Powell, and Trump by association, will own the outcome."
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
‘It is their greed and the pollution from their products that hurt consumers’Instant Opinion Opinion, comment and editorials of the day
-
Jane Austen lives on at these timeless hotelsThe Week Recommends Here’s where to celebrate the writing legend’s 250th birthday
-
‘Mexico: A 500-Year History’ by Paul Gillingham and ‘When Caesar Was King: How Sid Caesar Reinvented American Comedy’ by David Margolickfeature A chronicle of Mexico’s shifts in power and how Sid Caesar shaped the early days of television
-
GOP wins tight House race in red Tennessee districtSpeed Read Republicans maintained their advantage in the House
-
Trump targets ‘garbage’ Somalis ahead of ICE raidsSpeed Read The Department of Homeland Security will launch an immigration operation targeting Somali immigrants in the Minneapolis-St. Paul area
-
Hegseth blames ‘fog of war’ for potential war crimespeed read ‘I did not personally see survivors,’ Hegseth said at a Cabinet meeting
-
Canada joins EU’s $170B SAFE defense fundspeed read This makes it the first non-European Union country in the Security Action for Europe (SAFE) initiative
-
Appeals court disqualifies US Attorney Alina HabbaSpeed Read The former personal attorney to President Donald Trump has been unlawfully serving as US attorney for New Jersey, the ruling says
-
White House says admiral ordered potential war crimeSpeed Read The Trump administration claims Navy Vice Adm. Frank ‘Mitch’ Bradley ordered a follow-up strike on an alleged drug-smuggling boat, not Pete Hegseth
-
Honduras votes amid Trump push, pardon vowspeed read President Trump said he will pardon former Honduran president Juan Orlando Hernández, who is serving 45 years for drug trafficking
-
Congress seeks answers in ‘kill everybody’ strike reportSpeed Read Lawmakers suggest the Trump administration’s follow-up boat strike may be a war crime
