Trump may interview Janet Yellen for her Fed job

Fed hikes interest rate for third time in six months

WASHINGTON -- Federal Reserve Chair Janet Yellen will meet with President Donald Trump on Thursday to discuss the possibility of a second term as head of the central bank, a source familiar with the administration's Fed search said Monday.

Trump has said Yellen is one of several candidates he's considering for the Fed's top job. Yellen's current term ends on Feb. 3.

Trump met with Stanford University economics professor John Taylor last week. He interviewed former Fed board member Kevin Warsh and current Fed board member Jerome Powell late last month. Trump has also said economics adviser Gary Cohn is being considered.

Treasury Secretary Steven Mnuchin said last week the president hopes to have a decision on the Fed position within a month.

Forbes reveals 2016 list of World's Most Powerful Women

Yellen, the first woman to head the nation's central bank, was sharply criticized by Trump during the campaign as being too political in the way she handled the Fed job. Trump said she was keeping interest rates low to favor Democrats. But since taking office, Trump hasn't criticized Yellen and has instead praised her, saying she has "done a good job" and favors low interest rates as he does.

In addition to the top position, Trump has several other vacancies to fill on the Fed board.

Utah financier Randal Quarles, Trump's first Fed nomination, was sworn in on Friday. Quarles will fill the key job of vice chairman for supervision, the Fed's top policy job for overseeing banking regulations.

But as Quarles was joining the board, Fed Vice Chairman Stanley Fischer was stepping down. That leaves the seven-member board with three vacancies, the same number of openings it has had for most of this year.

f

We and our partners use cookies to understand how you use our site, improve your experience and serve you personalized content and advertising. Read about how we use cookies in our cookie policy and how you can control them by clicking Manage Settings. By continuing to use this site, you accept these cookies.