US President Donald Trump has nominated Jerome Powell to lead the country’s central bank, deciding not to reappoint current Federal Chair Janet Yellen.
Making the announcement during a ceremony in the White House Rose Garden, Mr Trump said Mr Powell, a multi-millionaire who is known as “Jay”, had the right qualities to lead the world’s strongest economy.
"He is strong. He's committed. He's smart," and a "consensus builder," Mr Trump said of his choice for Federal chair.
"Based on his record I am confident that Jay has the wisdom and leadership to guide our economy through any challenges that our great economy may face."
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Read more:
You're hired! Shades of 'Apprentice' in Trump's hunt for next Fed chief
US tax and upbeat economic outlooks lift dollar’s fortunes
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Mr Powell, a lawyer who was a former partner of global investment company the Carlyle Group, will need Senate confirmation. However, as a governor on the board of the Federal reserve, he has already been through the Senate approval process.
Mr Trump’s decision to replace the existing chair within the first year of his presidency, and has not been done by a first-term president for 40 years.
Ms Yellen was praised by the president for her leadership, who called her an "absolutely spectacular person".
Mr Powell, a Republican who is worth between $20 million and $55 million (Dh73.5million and Dh202million), has said he supports the administration’s policies on bank deregulation, while backing Ms Yellen’s very gradual interest rate rises.
"Powell allows Trump to change the Fed leadership without changing the basic monetary policy strategy. That strategy has been largely successful," said University of Oregon economist Tim Duy.
Ms Yellen, who has led the central bank since 2014, has been credited with steering the ship to safety as the US recovers from the financial crisis, which began 10 years ago.
After the announcement of Mr Powell’s nomination and congressional Republicans unveiled their tax-cut plan, the Dow ended on a record high.
The Dow Jones Industrial Average gained 0.3 percent to finish at 23,514.81, about 75 points above the prior record set last week.
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
Disability on screen
Empire — neuromuscular disease myasthenia gravis; bipolar disorder; post-traumatic stress disorder (PTSD)
Rosewood and Transparent — heart issues
24: Legacy — PTSD;
Superstore and NCIS: New Orleans — wheelchair-bound
Taken and This Is Us — cancer
Trial & Error — cognitive disorder prosopagnosia (facial blindness and dyslexia)
Grey’s Anatomy — prosthetic leg
Scorpion — obsessive compulsive disorder and anxiety
Switched at Birth — deafness
One Mississippi, Wentworth and Transparent — double mastectomy
Dragons — double amputee
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
School counsellors on mental well-being
Schools counsellors in Abu Dhabi have put a number of provisions in place to help support pupils returning to the classroom next week.
Many children will resume in-person lessons for the first time in 10 months and parents previously raised concerns about the long-term effects of distance learning.
Schools leaders and counsellors said extra support will be offered to anyone that needs it. Additionally, heads of years will be on hand to offer advice or coping mechanisms to ease any concerns.
“Anxiety this time round has really spiralled, more so than from the first lockdown at the beginning of the pandemic,” said Priya Mitchell, counsellor at The British School Al Khubairat in Abu Dhabi.
“Some have got used to being at home don’t want to go back, while others are desperate to get back.
“We have seen an increase in depressive symptoms, especially with older pupils, and self-harm is starting younger.
“It is worrying and has taught us how important it is that we prioritise mental well-being.”
Ms Mitchell said she was liaising more with heads of year so they can support and offer advice to pupils if the demand is there.
The school will also carry out mental well-being checks so they can pick up on any behavioural patterns and put interventions in place to help pupils.
At Raha International School, the well-being team has provided parents with assessment surveys to see how they can support students at home to transition back to school.
“They have created a Well-being Resource Bank that parents have access to on information on various domains of mental health for students and families,” a team member said.
“Our pastoral team have been working with students to help ease the transition and reduce anxiety that [pupils] may experience after some have been nearly a year off campus.
"Special secondary tutorial classes have also focused on preparing students for their return; going over new guidelines, expectations and daily schedules.”
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COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
Vidaamuyarchi
Director: Magizh Thirumeni
Stars: Ajith Kumar, Arjun Sarja, Trisha Krishnan, Regina Cassandra
Rating: 4/5
Crops that could be introduced to the UAE
1: Quinoa
2. Bathua
3. Amaranth
4. Pearl and finger millet
5. Sorghum
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
LEADERBOARD
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COMPANY%20PROFILE
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