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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

Republican Rep. Diane Black of Tennessee recently cited pornography as a contributing factor to gun violence in schools."How many of you when you were in school ever had an experience where a kid came to school with a gun?... Never happened. So we say, 'Why?' ... Why do we see kids being so violent? What's out there? What makes them do that?" Black said during a listening session with local pastors last week, according to audio HuffPost obtained and posted Tuesday.Black, who is also running for governor in her state, went on to list "deterioration of family," violent movies and pornography as what's led to school shootings."It's available on the shelf when you walk in the grocery store. Yeah, you have to reach up to get it, but there's pornography there," Black says in the audio. "All of this is available without parental guidance."She adds, "And I think that's a big part of the root cause, that we see so many young people that have mental illness get caught in these places."In the audio, Black does not detail what it is about pornography that she believes contributes to school shootings."I think the context is pretty clear," Black's campaign spokesman Chris Hartline told CNN Tuesday. "Diane believes the breakdown of families and communities plays a significant role in instances of school violence."Moms Demand Action founder Shannon Watts criticized Black's comments, writing on?Twitter?that "despite all of the data and experts at her disposal, (Black) chooses to blame 'grocery store pornography' for school shootings. And she doesn't mean the magazines that glorify guns." 1615

Researchers say a whale found in the Arctic could be susceptible to COVID-19 since it's "particularly susceptible to infection."Researchers headed up by Martin Nweeia from Case Western Reserve University School of Dental Medicine in Cleveland, Ohio, will observe wildlife, mainly the narwhal whale is known for its vast nine-foot tusk."Scientists have a difficult enough time keeping up with the human spread of this virus, so we are eager to monitor an animal that is particularly susceptible to infection," Nweeia said in a press release.Nweeia has studied the narwhal for over 20 years, so he and his team know that animals can get the deadly virus."If this coronavirus were to gain a foothold in wildlife, there could be potential cascading impacts for ecosystems worldwide and the communities that rely on them," Nweeia added.Additionally, Nweeia and his team have already been observing the Ugandan lowland gorilla see its susceptibility because if it ever came into contact with one organism with COVID-19, it could wipe out the entire species, Nweeia said. 1072

Quick thinking and response by Independence, Ohio police officer Andrew March, made all the difference in the world for a woman police say was attempting to take her own life, on the I-480 bridge on April 20.Officer March responded at 9:30 AM, after getting information from Cleveland police, that the woman could be on the bridge.Independence police dash camera video shows Officer March quickly jumping out of his cruiser, and then jumping up to grab the woman's leg, pulling her down to safety."I was just thinking get there fast, and if she's climbing up, make sure she gets back down safely on the right side," said March."I just grabbed whatever is available and start pulling and hopefully and would get her to safety."March credited higher safety fencing, installed along the I-480 bridge by the Ohio Department of Transportation two months ago, with giving him more time to get to the scene."It definitely made a difference, if it would have been the old fencing, she probably would have made it over the top," said March.Independence Police Chief Michael Kilbane told News 5, he and police chief's in Valley View and Garfield Heights, started working with State Representative Marlene Anielski (R-Walton Hills) last year to get the safety fencing improved."She really lobbied ODOT hard to get this done, and actually made them make it a priority," said Kilbane.Kilbane praised ODOT and said he hopes the safety fencing posted at other northeast Ohio bridges will be examined in the future."Again it if can just prevent one of them, or buy some time for somebody to get there and talk them out of it, or help them.  I think it's well worth the investment," said Kilbane.ODOT told News 5 it will install a 10-foot safety fence along the Lorain Road bridge, over the Rocky River, later this summer.Meanwhile, March told News 5 he doesn't feel like a hero, that he was just doing his job.Chief Kilbane disagrees."Andrew March is a hero," said Kilbane."I know he's a modest kid, but he saved a life today." 2054

Presidential candidate Joe Biden spoke out on Wednesday on the shooting of Jacob Blake in Kenosha, Wisconsin. Blake was shot by police in Wisconsin on Sunday, causing unrest in Kenosha.Two officers from the incident have been placed on administrative leave. But protesters are calling for the officers to be fired and criminally charged for the shooting.Biden confirmed that he has talked to the Blake Family about the shooting.“What I saw on that video makes me sick,” Biden said. “Once again, a black man, Jacob Blake, been shot by the police in the broad daylight, the whole world watching”Biden said he told the Blake Family that “justice must and will be done.”While Biden applauded the protests, he decried the violence surrounding the protests. The violence culminated on Tuesday in the fatal shooting of two people. Police in Illinois arrested a 17-year-old in connection to the shootings.“As I said after George Floyd's murder, protesting brutality is a right and absolutely necessary, but burning down communities is not protest,” Biden said. “It's needless violence. Violence that endangers lives, violence that guts businesses and shutters businesses that serve the community. That's wrong. In the midst of this pain, the wisest words that I've heard spoken so far have come from Julia Jackson, Jacob's mother. She looked at the damage done in her community and she said this, quote ‘This doesn't reflect my son or my family. So let's unite, and heal, do justice, end the violence, and systemic racism in this country now.’Protests are expected to continue in Kenosha on Wednesday. President Donald Trump said that the state’s governor had accepted help from the National Guard, but the state’s governor, Democrat Tony Evers, said that he had not agreed to National Guard assistance, but would welcome federal assistance in a support role. 1859

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