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Jerome Powell leading contender for Fed chairman, sources say

Jerome Powell leading contender for Fed chairman, sources say
Posted at 11:11 AM, Oct 29, 2017
and last updated 2017-10-29 07:48:11-04

(CNN) - Jerome Powell is the top contender to become the next Federal Reserve chairman.

Two sources who spoke to CNN said President Donald Trump will likely pick Powell, even though he could still change his mind. The White House said Trump would announce his decision this week.

Powell is an investment banker who now serves as governor of the Fed's board.

There has been some speculation that Trump would re-nominate current chairwoman Janet Yellen. Yellen's four-year term expires in February.

Trump and Yellen have been at odds on several issues, including whether the regulations imposed after the 2008 financial crisis should be reduced.

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