Breaking News: President Trump named a new Fed chairman, Jerome Powell, breaking with precedent: Recent Fed chiefs have been reappointed by new presidents

Mr. Powell is a Republican with deep roots in the party’s establishment and in the financial industry, a lawyer by training and investment banker by trade. As chair, a position some consider as the second most powerful post in government, he will be the voice of an institution that is charged with keeping the economy on track by adjusting interest rates that influence the decisions of millions of Americans.

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