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."
Read why The Week's Jeff Spross calls Powell a "surprisingly good" choice for the job here.
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.
-
Marie Antoinette Style at the V&A: a ‘magnificent’ exhibitionThe Week Recommends The UK’s first show dedicated solely to the French queen explores the complex woman behind the ‘bling’
-
8 riveting museum exhibitions on view in the fallThe Week Recommends See Winslow Homer rarities and Black art reimagined
-
Crossword: September 18, 2025The Week's daily crossword
-
House posts lewd Epstein note attributed to TrumpSpeed Read The estate of Jeffrey Epstein turned over the infamous 2003 birthday note from President Donald Trump
-
Supreme Court allows 'roving' race-tied ICE raidsSpeed Read The court paused a federal judge's order barring agents from detaining suspected undocumented immigrants in LA based on race
-
South Korea to fetch workers detained in Georgia raidSpeed Read More than 300 South Korean workers detained in an immigration raid at a Hyundai plant will be released
-
DC sues Trump to end Guard 'occupation'Speed Read D.C. Attorney General Brian Schwalb argues that the unsolicited military presence violates the law
-
RFK Jr. faces bipartisan heat in Senate hearingSpeed Read The health secretary defended his leadership amid CDC turmoil and deflected questions about the restricted availability of vaccines
-
White House defends boat strike as legal doubts mountSpeed Read Experts say there was no legal justification for killing 11 alleged drug-traffickers
-
Epstein accusers urge full file release, hint at own listspeed read A rally was organized by Reps. Ro Khanna and Thomas Massie, who are hoping to force a vote on their Epstein Files Transparency Act
-
Court hands Harvard a win in Trump funding battleSpeed Read The Trump administration was ordered to restore Harvard's $2 billion in research grants
