Yellen, Warsh, Powell, and Cohn (from l to r) are top contenders. Photos: Dake Kang, Reed Saxon, Andrew Harnik, Evan Vucci / AP

President Trump and Treasury secretary Steven Mnuchin met with former Fed governor Kevin Warsh and Fed governor Jerome Powell this week, as he gets closer to choosing a Federal Reserve chair nominee, according to Bloomberg.

Trump told reporters he would be making a decision "over the next two or three weeks." In addition to meeting with Warsh and Powell, the president has met with current Fed chair Janet Yellen and White House economic adviser Gary Cohn.

Why it matters: "The selection is one of the most important facing Trump," Bloomberg reports, saying Warsh "might aggressively promote the administration's agenda to reduce financial regulation and raise interest rates faster."

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Dan Primack, author of Pro Rata
11 mins ago - Economy & Business

Leon Black says he "made a terrible mistake" doing business with Jeffrey Epstein

Photo illustration: Sarah Grillo/Axios. Photo: Rick Friedman/Corbis/Getty Images

Apollo Global Management CEO Leon Black on Thursday said during an earnings call that he made a "terrible mistake" by employing Jeffrey Epstein to work on personal financial and philanthropic services.

Why it matters: Apollo is one of the world's largest private equity firms, and already has lost at least one major client over Black's involvement with Epstein.

1 hour ago - World

Jeremy Corbyn suspended by U.K. Labour Party over anti-Semitism report

Photo: Christopher Furlong/Getty Images

The U.K. Labour Party has suspended its former leader, Jeremy Corbyn, after a watchdog report found that the party failed to properly take action against allegations of anti-Semitism during his time in charge.

Why it matters: It represents a strong break by Keir Starmer, Labour's current leader, from the Corbyn era and one of the party's most persistent scandals.

U.S. economy sees record growth in third quarter

The U.S. economy grew at a 33.1% annualized pace in the third quarter, the Commerce Department said on Thursday.

The state of play: The record growth follows easing of the coronavirus-driven lockdowns that pushed the economy to the worst-ever contraction — but GDP still remains well below its pre-pandemic level.