December 1, 2017 / 3:29 PM / a year ago

Powell a 'steady hand' to lead Fed: Bullard

Jerome Powell testifies before the Senate Banking, Housing and Urban Affairs Committee on his nomination to become chairman of the U.S. Federal Reserve in Washington, U.S., November 28, 2017. REUTERS/Joshua Roberts

LITTLE ROCK, ARK (Reuters) - Federal Reserve Governor Jerome Powell, President Donald Trump’s nominee to become Fed chair, will be a “steady hand” at the central bank, St. Louis Federal Reserve bank president James Bullard said on Friday.

“He will be very good...A steady hand,” Bullard said, arguing that the Fed’s network of 12 regional banks and a Washington-based board give the central bank “a lot of continuity in policymaking even when new people are coming and other people are going...That will be the case here.”

Reporting by Howard SchneiderEditing by Chizu Nomiyama

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