Regulation and Compliance

And the Next Fed Chairman Is …

Oct 18, 2017
The Trump Administration revisited a concern from earlier in the year that the President was considering the removal of Jerome Powell as Chairman of the Federal Reserve

President Trump has narrowed the field of candidates for Federal Reserve chairman to five individuals, including the current occupant of the central bank’s leadership role.
 
According to an Associated Press report citing “a White House official speaking on condition of anonymity,” Fed Chairwoman Janet Yellen is in the running for a second term, despite the president’s statements during his 2016 election campaign that Yellen would not be reappointed. The other finalists are current Fed board member Jerome Powell, National Economic Council director Gary Cohn, former Fed board member Kevin Warsh and Stanford University economist John Taylor.
 
The President was asked during a news conference if there were other candidates, but stated the choice was narrowed to the five.
 
“Honestly, I like them all,” President Trump said when asked if he had a favorite. “I do. I have a great respect for all of them. But I will make a decision over the next very short period of time.”
 
The Associated Press added that a decision is likely to be made before the President leaves on Nov. 3 for a trip to Asia. Yellen’s four-year term as Fed chief ends on Feb. 3. 
 
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Phil Hall
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Oct 18, 2017
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