The US Senate has confirmed Janet Yellen as the new chair of the Federal Reserve. She will be the first woman to head America's central bank and faces the task of winding down its historic stimulus program.
The US central bank's first female chief is planning to step down from it's governing board. Janet Yellen said in a letter to President Trump that she was "gratified" to leave with the US on firmer financial footing.
The US president has nominated Jerome Powell as the new chair of the central bank. While Trump wants low rates to boost growth and the stock markets, he knows that what Wall Street values most is safe hands.
US President Trump is turning the announcement of a new Federal Reserve head into a reality TV experience like his show The Apprentice. But is it just a distraction from other problems? Jens Korte reports from New York.
Under pressure from fresh allegations against his campaign team, US President Donald Trump is preparing to announce Fed governor Jerome Powell as his choice to replace Janet Yellen at the head of the central bank.
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