WASHINGTON — President Trump nominated Jerome Powell to chair the Federal Reserve on Thursday afternoon, bypassing Janet Yellen for a second term but turning to a replacement who is expected to stay the course on monetary policy if the economy continues its steady growth. “He’s strong, he’s committed, he’s smart,” Trump said in the Rose Garden, where he introduced Powell as his choice. Using Powell’s nickname, the president said, “Based on his record, I am confident that Jay has the wisdom and leadership to guide our economy through any challenges that our great economy will face.” Less certain is where Powell would lead the Fed if the economy falters.
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