Jerome Powell nominated by president to lead US central bank.

Trump said Powell is strong, committed and smart. (Reuters)

US President Donald Trump on Thursday nominated Federal Reserve Governor Jerome Powell to lead the US central bank.

Powell, who must be confirmed by the Senate, will replace current Fed Chair Janet Yellen when her term at the helm of the central bank expires in February.

Trump said Powell is “strong, committed and smart,” and has the “wisdom and leadership to guide” the US economy.

Last Update: Wednesday, 20 May 2020 KSA 12:04 - GMT 09:04