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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

Rachel Crooks, who alleged that Donald Trump kissed her without her consent in 2005 when she was working as a receptionist in Trump Tower, on Tuesday secured her primary bid for state office in Ohio.Crooks was running unopposed for the Democratic nomination for a seat in the state Legislature.Crooks initially went public with her claims against Trump ahead of the 2016 election. In February of this year, The Washington Post reported a detailed account of her story.President Trump denied Crooks' claims after The Post's report published, tweeting: "A woman I don't know and, to the best of my knowledge, never met, is on the FRONT PAGE of the Fake News Washington Post saying I kissed her (for two minutes yet) in the lobby of Trump Tower 12 years ago. Never happened! Who would do this in a public space with live security cameras running."Crooks responded to Trump through her campaign's Twitter account, where she urged the President to release any footage from the encounter."Please, by all means, share the footage from the hallway outside the 24th floor residential elevator bank on the morning of January 11, 2006," her campaign account wrote on Twitter. "Let's clear this up for everyone. It's liars like you in politics that have prompted me to run for office myself."  1294

President Trump confirmed to reported in the White House Tuesday that he had called Russian President Vladimir Putin to congratulate him on his re-election."I had a call with President Putin and congratulated him on the victory, his electoral victory," Trump said. "The call had to do, also, with the fact that we will probably get together in the not too distant future so that we can ... discuss the arms race."Trump also made comments discussing increased military spending, and said he would also discuss issues relating to Ukraine and North Korea if he were to meet with Putin.Putin was re-elected as Russia's president Sunday, an election he won with 76 percent of the vote — an election that watchdogs said was far from fair but cleaner than in years past.Watch Trump's full comments in the video below. 823

Regal announced plans Tuesday for the reopening of its theatres beginning July 10.A release states the reopening plans include a range of new health and safety measures based on health guidelines and feedback from employees and moviegoers.Regal says contactless payment options and sanitizing methods will include:Contactless payment. Along with the ability to purchase tickets in advance on the Regal mobile app, guests will now have the ability to purchase concession items from the app.ULV Foggers. Employees will sanitize every auditorium and seat after each movie using new electrostatic ‘fogger’ equipment. This form of deep sanitization is highly effective in disinfecting all materials with a non-toxic formula that is fast drying.Points of contact will be sanitized on an increased schedule, floor markers will be placed throughout, and the following safety measures will also be put in place:EmployeesRegal employees will undergo daily health screenings including temperature checks where mandated.Employees will be required to wash hands at minimum every 30 to 60 minutes, dependent on job role.Where required by local governance, all employees and guests will wear masks.LobbyGreeters will be located in the lobby to assist guests with new procedural changes.Guests will be encouraged to proceed to their auditorium as soon as possible, and exit the theatre in a timely manner at the conclusion of their movie.Wall mounted sanitizer dispensers will be available on either side of the main entrance.Arcade games and vending machines will remain closed. Additionally, water fountains will not be available for use.Concession StandEvery other register will be closed to maintain social distancing.A reduced menu offering will be temporarily available.Self-service condiment stands will be closed.Refills on large drinks and popcorn will be suspended.Locations featuring diners, restaurants and in-theatre ordering will have these services temporarily suspended.Locations with bars will remain open for walk-up service only.AuditoriumWhere required by state or county mandate, auditorium capacities will be reduced to 50%.Our reservation system will maintain two empty seats between groups (1 seat at recliner locations) to maintain proper social distancing throughout the movie.At theatres where performances are non-reserved, you will be requested to leave two seats between groups.Group sizes will only be limited where required by a state or county mandate.This story was first published by WKBW. 2516

President Donald Trump's lead lawyer, John Dowd, has resigned from the President's personal legal team handling the response to the Russia investigation."I love the President and wish him well," Dowd said in a statement to CNN.Dowd's resignation comes as Trump has stepped up his attacks on special counsel Robert Mueller and days after Dowd said in a statement the investigation should end, initially claiming he was speaking for the President before saying he was only speaking for himself. 500

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