Trump to meet with Yellen about staying on as Fed chair

by Ryan Smith17 Oct 2017
President Donald Trump will interview Janet Yellen this week about the possibility of staying on for another term as chair of the Federal Reserve.

Yellen’s term ends in February. While Trump has previously floated the idea of keeping her on as chair, to do so would still mark a sharp departure from his previous rhetoric, according to a CNBC report. As a presidential candidate, Trump accused Yellen of being too political.

Still, Trump will interview the Fed chair Thursday about staying in the job, CNBC reported. And although Trump slammed Yellen during the presidential campaign, he has spoken more highly of her since taking office.

“I like her and I respect her, but I haven’t made that decision yet,” he told reporters last month.
Yellen was appointed to the post in 2014 by former President Barack Obama. She is the first woman to chair the Federal Reserve.

Yellen is only one of a number of people who have been mentioned as contenders for the position, including National Economic Council Director Gary Cohn, Federal Reserve Bank of Minneapolis President Neel Kashkari, Fed Governor Kevin Warsh and economist John Taylor.

Those who favor Yellen remaining in the top spot argue that she would be more likely to raise interest rates slowly, according to a Politico report. Observers say that other contenders for the Fed chair – Warsh and Taylor in particular – would likely be much more aggressive about raising rates.
 

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