Federal Reserve

President Donald Trump on Thursday tapped Federal Reserve Governor Jerome Powell to become head of the U.S. central bank, promoting a soft-spoken centrist to replace Janet Yellen when her term expires in February.

President Donald Trump on Thursday tapped Federal Reserve Governor Jerome Powell to become head of the U.S. central bank, promoting a soft-spoken centrist to replace Janet Yellen when her term expires in February.

The Czech Republic's central bank has raised its key interest rate by a quarter point to 0.50 percent to rein in inflation amid a booming economy.

The Czech Republic's central bank has raised its key interest rate by a quarter point to 0.50 percent to rein in inflation amid a booming economy.

Stocks around the world continued to push higher Wednesday, led by companies that extract oil and other commodities from the ground.

The White House has notified Federal Reserve governor Jerome Powell that President Donald Trump intends to nominate him as the next chairman of the central bank, according to a person familiar with the matter.

The White House has notified Federal Reserve governor Jerome Powell that President Donald Trump intends to nominate him as the next chairman of the central bank, according to a person familiar with the matter.

Despite praise from the Trump administration that the president’s business-friendly policies are largely responsible for a record-breaking run on the stock market, the real cause behind the booming economy may in fact be the positive social mood and the generally increased levels of optimism in society.

Despite praise from the Trump administration that the president’s business-friendly policies are largely responsible for a record-breaking run on the stock market, the real cause behind the booming economy may in fact be the positive social mood and the generally increased levels of optimism in society.

Presumptive Fed chair nominee Jerome Powell would rank among the richest individuals ever to hold the office should he replace Janet Yellen next February, according to a report Wednesday.

Presumptive Fed chair nominee Jerome Powell would rank among the richest individuals ever to hold the office should he replace Janet Yellen next February, according to a report Wednesday.

With a new Federal Reserve leader about to be announced, the Fed is keeping its key interest rate unchanged.

With a new Federal Reserve leader about to be announced, the Fed is keeping its key interest rate unchanged.

President Donald Trump is expected to announce his nomination for the next Federal Reserve Chairman on Thursday, and it is widely expected that he will select Jerome Powell to take over the post from Janet Yellen when her four-year term ends on February 3, 2018.

President Donald Trump is expected to announce his nomination for the next Federal Reserve Chairman on Thursday, and it is widely expected that he will select Jerome Powell to take over the post from Janet Yellen when her four-year term ends on February 3, 2018.

The Federal Reserve kept interest rates unchanged on Wednesday and pointed to solid U.S. economic growth, a sign it is on track to lift borrowing costs again in December.

The Federal Reserve kept interest rates unchanged on Wednesday and pointed to solid U.S. economic growth, a sign it is on track to lift borrowing costs again in December.

Below is the statement the Fed released Wednesday after its policy meeting ended: Information received since the Federal Open Market Committee met in September indicates that the labor market has continued to strengthen and that economic activity has been rising at a solid rate despite hurricane-related disruptions.