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President Trump nominated Federal Reserve Governor Jerome Powell on Thursday to lead the world's most influential central bank.A Fed governor since 2012 and former Treasury official under the George H.W. Bush administration, Powell will replace current Fed Chair Janet Yellen. Yellen was nominated in 2013 by President Obama. Her term as the central bank's first female leader expires in February.It will be the first time in four decades that a new president hasn't asked the current Fed chair to stay on for a second term.Powell was among five candidates considered for the job. Also on the president's short list: former Fed governor Kevin Warsh, Stanford University economist John Taylor, the president's top economic adviser, Gary Cohn and Yellen.Ahead of Trump's formal announcement Thursday, Cohn praised the president's choice. "I'm really supportive of the president's decision -- and it's a great decision," he said speaking before The Economic Club of Washington.Related: Fed leaves interest rates alone and waits for TrumpThe position of Fed chair requires Senate confirmation. Republicans currently hold the majority and would be able to confirm Powell without any Democratic support, if necessary.At 64, Powell has been Yellen's ally on monetary policy, while also calling for easing some of the regulations on banks put in place after the 2008 financial crisis.Unlike almost all of his predecessors in the position, Powell is not an economist by training. Instead, he was a lawyer and former partner at private-equity firm, Carlyle Group.Two immediate challenges face Powell once he is confirmed in the role: How quickly to raise interest rates and how to continue to safely unwind the Fed's hefty balance sheet.It's the job of central bankers to shift policy levers, nudging interest rates higher or lower, to boost jobs and keep prices, or inflation, at the optimal level.What's made their job trickier is that inflation is signaling the Fed should not increase rates. But economic growth and a low unemployment rate of 4.2% are saying it should.Related: Powell would be the first investment banker to chair the Fed Powell has been supportive of Yellen's plan to gradually raise interest rates, if there are continued signs of improvement in the economy."The economy is as close to our assigned goals as it has been for many years," said Powell in a June speech at the Economic Club of New York. "Risks to the forecast now seem more balanced than they have been for a some time."Powell will also have to oversee how the central bank continues to shed some of the .5 trillion in investments it made in order to prop up the economy after the financial crisis. The Fed began the process of unwinding almost a decade's worth of stimulus investments in September.For years, the central bank piled up purchases of Treasury and mortgage-backed securities, a strategy intended to stimulate the economy by reducing borrowing costs for everyone. At the time, it also reduced its benchmark interest rate to zero, and only began raising it in December 2015, seven years after the crisis.Related: Fed taps Jerome Powell to head oversight of 'too big to fail' banksPowell voted in favor of winding down the Fed's balance sheet. And like Yellen, he's left the door open for a new round of asset purchases in the event of another crisis.In April, the Fed tapped Powell to serve as the new point man overseeing how Wall Street banks are regulated after Daniel Tarullo, the central bank's regulatory czar stepped down. Tarullo held the position for the past eight years.In this role, the Fed governor has sided with the Trump administration on easing some of the regulatory burdens on banks. He's specifically suggested relaxing the so-called Volcker Rule, which bars banks from taking risky bets with taxpayer money.The-CNN-Wire 3838

QUEEN CREEK, Ariz. — Conversations have been forced to change in children's classrooms. Many adults remember simply learning about a basic fire drill or what to do in a lockdown.But today, many teachers are having to teach kids what to do in case of an active shooter. Another safety net that is being used in places around Arizona, including Queen Creek Unified School District, is a donated, repurposed tool from the Queen Creek Fire and Medical Department: fire hoses. "They're cut into a certain segment. They are perfect to go over the hinges of our doors and that just adds this extra layer of security to our classroom," said Newell Barney Middle School science teacher Tammi Brewster. Brewster explained how the recycled and donated fire hoses from the fire department become a deterrent for any "bad guys" trying to get into a classroom and are now a part of their lockdown procedure called ALICE. ALICE stands for alert, lockdown, inform, counter and evacuate. Brewster said that the fire hose is part of a larger conversation with students regarding school shootings. It helps explain the procedure for active shooter or lockdown drills in a way that does not scare them, but empowers them. "It gives them a relief that, 'OK, all of this is going on in the news, in our society and I have choices I can make. I don't have to sit in a corner and be scared,' '' Brewster said. "The schools have their processes and their programs in place for a lockdown," said Queen Creek Fire Chief Vance Gray. "What we wanted to do was just assist by adding another layer of protection for the teachers and the students and the schools." Gray said his two children went to one of the schools where he has donated these fire hoses.While it is a piece of equipment he never hoped he would have to pass out, he knows taking action is the only thing to do. "If you can't change the way things are and make them exactly how you want them to be, then the best thing you can do is prepare," Gray said. He said they will continue donating their fire hoses whenever they go out of service.  2169

President Donald Trump visited Arlington National Cemetery on Wednesday as part of a Veterans Day ceremony.Trump laid a wreath at the Tomb of the Unknown Soldier, in an act that has become a Veterans Day and Memorial Day tradition for presidents in the years since the remains of several unidentified U.S. soldiers who fought in World War I were interred at the cemetery in 1921.In the years since, remains of other unidentified soldiers from World War II and the Korean War have since been interred in the area. The remains of a U.S. soldier who fought in the Vietnam War were briefly interred in the tomb before scientists identified them as those of Air Force 1st Lt. Michael Joseph Blassie. Blassie's remains were removed from the tomb in 1998 upon his family's request.The Tomb has come to represent all U.S. soldiers who have been killed or remain missing in action.The wreath-laying ceremony was Trump's first on-camera public appearance since most media outlets projected Joe Biden as the winner of the 2020 presidential election.Prior to Wednesday, Trump's last on-camera public appearance came on Nov. 5 when he held a press conference at the White House to falsely claim victory in the 2020 presidential race citing baseless claims of widespread voter fraud. 1277

President Trump, wearing a mask, rides by his supporters outside Walter Reed while in the back of a Suburban. pic.twitter.com/nsCJyYXHdK— Kaitlan Collins (@kaitlancollins) October 4, 2020 195

Republican Attorney General Josh Hawley will face Democratic Sen. Claire McCaskill in one of the GOP's best pick-up opportunities in November.Trump won the state by 19 percentage points in 2016.Polls have closed in Ohio's 12th Congressional District, Missouri, Michigan and Kansas.The Ohio race -- the last special congressional election before November -- is one of two taking place on Tuesday into which President Donald Trump has injected himself, turning both into new tests of Trump's tactics and sway with Republican voters.Republicans are scrambling to avoid an embarrassing defeat in a seat that the party has held for decades. Trump has backed Republican Troy Balderson, who is facing Democrat Danny O'Connor in the last special congressional election before November's midterm elections. A win for Democrats here on Tuesday would signal further danger for Republicans in the fall.The party previously lost a similar race in Pennsylvania and saw one in Arizona get too close for comfort.In the Republican primary for Kansas governor, Trump on Monday endorsed Kris Kobach, the Kansas secretary of state known for his crusade for restrictive voting laws, over incumbent Gov. Jeff Colyer. In doing so, he ignored the pleas of the Republican Governors Association to stay out of the race. Kobach is widely seen as uniquely vulnerable in a general election due to his controversial national profile.The two races will garner the most national attention on a day when four states hold primary elections: Kansas, Michigan, Missouri and Washington.Tuesday's elections carry high stakes for Democrats, too -- with races in Kansas, Michigan and Missouri, where the progressive left hopes to defeat more moderate candidates.  1736

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