Yellen, Cohn are possible Fed chair picks: Trump

This article is more than 12 months old

NEW YORK: US President Donald Trump named two possible candidates to run the Federal Reserve over the next few years: Current Fed chair Janet Yellen and Mr Trump's economic adviser Gary Cohn, according to an interview with The Wall Street Journal.

Ms Yellen, whose four-year term expires in February, "is in the running, absolutely", to be renominated, Mr Trump was quoted as saying. In addition, Mr Cohn, a former Goldman Sachs president who is now director of the National Economic Council, "certainly would be in the mix", Mr Trump said.

Mr Trump said he probably would make the announcement at the end of the year, the newspaper reported.

He was also quoted saying that there are "two or three" other contenders, though he declined to name them.

Any Fed nominee would need Senate confirmation.

Mr Trump's comments could sharpen speculation over who will take the helm of the world's most influential central bank, which is leading a global shift toward tighter monetary policy.

Earlier this month, Politico reported that Ms Yellen is increasingly unlikely to serve another term, while Mr Cohn was the top candidate.

Mr Cohn, a Democrat who is managing the White House's search for candidates, did not work on Mr Trump's campaign and got to know him only after the election in November last year.

"I have gained great respect for Gary working with him," the Journal quoted Trump as saying on Tuesday.

Ms Yellen took over from Mr Ben Bernanke as Fed chair in February 2014 with the US economic recovery from the 2008 financial crisis still on shaky ground.

"I like her. I like her demeanour. I think she has done a good job," Mr Trump was quoted as saying.

"I would like to see rates stay low. She has historically been a low-interest-rate person." - REUTERS


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