Commercial

Housing industry welcomes Jerome Powell, Trump’s Fed Chair nominee

Powell expected to follow in his predecessor’s footsteps with a steady approach.

President Donald Trump Thursday named former Carlyle Group partner and consummate Wall Street insider Jerome “Jay” Powell as chair of the Fed, a move real estate professionals roundly cheered, calling the decision “the best possible choice” for the currently buoyant housing market.

Expected to take a slow-but-steady approach in the vein of current chair Janet Yellen, Powell will take the reins in February, when analysts predict he will guide a vibrant economy by cautiously raising interest rates and easing banking regulations put in place following the 2008 financial crisis.

Read Article at Inman.com

Leave a Reply