Trump likely to allow Fed Chair Jerome Powell to serve remainder of his term: Report

U.S. President-elect Donald Trump is likely to allow Jerome Powell to serve the remainder of his term as the Federal Reserve chair, CNN reported on Thursday.

U.S. President-elect Donald Trump is likely to allow Jerome Powell to serve the remainder of his term as the Federal Reserve chair, CNN reported on Thursday, citing a senior adviser to Trump.

U.S. Federal Reserve Chair Jerome Powell (REUTERS)

While Trump could change his mind, he and his economic team's present view is that Powell should remain atop the central bank until Powell's term expires in May 2026, CNN reported, citing the unidentified senior adviser.