Federal Reserve Chairman Jerome Powell, in a speech in Stockholm, warned against taking that independence for granted given its recent success in keeping inflation low.
President Donald Trump picked Powell after deciding to break with recent tradition and not offer Janet Yellen, the first woman to lead the nation’s central bank in its 100-year history, a second four-year term.
Trump has installed more than three dozen veterans of the Bush administration, putting them in charge of running agencies, implementing foreign policy and overseeing his schedule.
President Donald Trump said Tuesday that he is likely to make his selection for the next Federal Reserve chairman from five candidates, a group that includes current Chair Janet Yellen.