Yellen "being considered" for re-appointment as Federal Reserve chair


Yellen "being considered" for re-appointment as Federal Reserve chair

Tue, 12 September 2017
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Yellen 'being considered' for re-appointment as Federal Reserve chair

(ShareCast News) - Janet Yellen is "being considered" for reappointment for what some regard as the second most powerful post in the world, chairman of the Federal Reserve, the US Treasury secretary announced on Tuesday.
Yellen's term as chair of the US Federal Reserve System was set to expire on 3 February 2018 but she had not been ruled out for reappointment, despite criticism of her from the President during the campaign trail, confirmed Steven Mnuchin on the sidelines of the CNBC/Institutional Investor Delivering Alpha conference in New York.

Reappointing Ms Yellen, who initially took-on the role in 2014, is "one of the things [the president is] still considering", said Mnuchin.

Indeed, just the day before CNN highlighted past comments from Donald Trump who had gone on record once to say "I have a lot of respect for her, and I like her [...] I would say yes, she is in the running to stay", said President Trump.

Nevertheless, the President was still in talks with other potential candidates for the role, said Mnuchin.

Gary Cohen, Trump's economic advisor was once considered a suitor for the role after Trump told an interviewer in late July that Cohn was in the running.

However, relations between the two chilled after he spoke out publicly against Trump's response to white nationalist violence in Charlottesville, Virginia, over the summer.

This was confirmed after Mr Mnuchin declined to comment when asked whether Gary Cohn was in the running for the role.

Whoever Trump chose to lead the central bank would wield wide power over monetary policy and the nation's financial system independently of the White House.