President Trump has nominated Jerome Powell to be the new Chairman of the Federal Reserve in February, when the term of current Chair, Janet Yellen runs out.
Curt Everson, President of the South Dakota Bankers Association, says they don’t expect any major changes in bank interest rate policy……
Everson says Federal Reserve policy has been focused for many years on controlling inflation……
Everson says most banks expect more, small increases in the prime rate….
The current prime rate is four and a quarter percent, up from three and a half percent last year.
