Trump to meet with Yellen as Fed term nears expiration

By PoliticsFOXBusiness

Who will Trump choose as the next Fed Chair?

Chase Chief Economist Anthony Chan on the outlook for Federal Reserve policy and who might be the next Federal Reserve Chair.

President Donald Trump will host Federal Reserve Chair Janet Yellen for a meeting at the White House later this week, sources familiar with the meeting told Fox News.

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Trump, who is in the process of interviewing candidates to lead the central bank, has said he would consider reappointing Yellen. The current chair’s term expires in February.

News of the upcoming meeting comes one week after Vice President Mike Pence weighed in on potential candidates in his own White House meetings, as reported by FOX Business.

During a press briefing last month, Yellen declined to comment on whether she would discuss her status with the president, saying she intends to “serve out my term as Chair.” Officials did not say whether Yellen’s future at the Fed would be discussed at this week’s meeting, according to Fox News. Yellen last had a meeting with Trump shortly after his inauguration in January.

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Trump and Treasury Secretary Steven Mnuchin met last month with two possible nominees to Fed Chair: Fed governor Jerome Powell and former Fed governor Kevin Warsh. John Allison, the former CEO of BB&T Bank (NYSE:BBT), and Stanford University economist John Taylor are also believed to be drawing consideration.

Gary Cohn, Trump’s top economic advisor, was thought to be the top candidate. Recent reports indicate that Cohn is now less likely to receive the nomination.

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