CNBC: Trump picks Jerome Powell to succeed Yellen as Fed chair
* President Donald Trump nominated Jerome Powell to run the Federal Reserve once current Chair Janet Yellen's term expires in February.
* Powell led a diverse field of potential nominees that included former Governor Kevin Warsh, Stanford economist John Taylor, chief Trump economic advisor Gary Cohn, and Yellen herself.
* Yellen's term has been marked by a mostly uninterrupted bull market that began in March 2009 and low interest rates even as the Fed has sought to unwind the stimulus initiated during the crisis.
President Donald Trump nominated Jerome Powell to run the Federal Reserve once current Chair Janet Yellen's term expires, in a move widely expected and one unlikely to disturb the roaring stock market.
Trump made the announcement during a Thursday afternoon ceremony in the Rose Garden.
The move follows an extended period of speculation over who would be named to head the central bank, whose aggressive policies have been considered central to a climate of low interest rates, surging job creation and booming asset prices.
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WNU Editor: The U.S. stock market appears to like the Powell nomination, but it is also booming over expectations on this passing .... Dow closes at record high in wild session after release of tax reform bill, Powell nomination (CNBC). This appointment is important because after the U.S. President .... Jerome Powell will have the power to impact our lives more than anyone else via through our pocketbook .... even for folks like me who live in Canada. (There is a Canadian saying .... when the U.S. sneezes, Canada gets a cold).
