(Nov 2): President Donald Trump plans to nominate Federal Reserve Governor Jerome Powell to the top job at the US central bank, three people familiar with the decision said.

Trump, who has said he’ll announce his pick Thursday, would be choosing a former private-equity executive who favours continuing gradual interest-rate increases and sympathises with White House calls to ease financial regulations. The immediate market reaction was muted, with the dollar briefly paring gains while stocks and bonds were little changed.

Powell declined to comment when approached by a reporter outside his Washington-area home. The Wall Street Journal earlier reported Trump has selected Powell.

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