FX.co ★ Trump unwilling to see Yellen as Fed Chair in future

A new US Federal Reserve Chairperson will be appointed in February. It is unclear who will occupy the position, but it is known for sure who will not have it.

Reliable sources tell that US President Donald Trump refuses to extend the term of the current Fed Chair, Janet Yellen. Now, there are two possible candidates: member of the Federal Reserve Board of Governors Jerome Powell and Stanford University economist John Taylor. Earlier, Trump had said that Janet Yellen could remain the Fed Chairwoman, which cheered the markets up. However, Trump is already known for his fast-changing decisions. Perhaps, he will change his mind at the very last moment.

Still, there is not much time left. Yellen’s term expires on February 3, 2018. Before this date, the candidate named by Donald Trump should be approved by the US Senate.

On November 2, 2017, Trump made up his mind and nominated Jerome Powell as a new Fed Chairperson.