WASHINGTON — President Trump has nominated Jerome H. Powell to be the next chair of the Federal Reserve.
Powell has been a member of the Board of Governors of the Federal Reserve since May 25, 2012, according to the Fed website.
From 1997 to 2005, Powell was a partner in Carlyle Group, an international asset management firm. He also was an undersecretary of the Treasury under President George H.W. Bush.
If confirmed, Powell will succeed current Federal Reserve Chair Janet L. Yellen, who began her four-year term on Feb. 3, 2014.