President Donald Trump is leaning toward nominating Federal Reserve Governor Jerome Powell to be the next head of the U.S. central bank, Bloomberg News reported on Friday, citing three unnamed sources.
Trump has said he has been considering Powell, as well as Stanford University economist John Taylor, for the post. He also has said he has not ruled out renominating current Fed Chair Janet Yellen, whose term expires in February.
He is expected to announce his pick, which would need to win Senate approval, before he departs on a trip to Asia on Nov. 3.
(Reporting by Tim Ahmann; Editing by David Alexander)