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Yellen, Cohn Are Both Contenders to Lead Fed: Trump to WSJ

26 Juillet 2017

U.S. President Donald Trump named on Tuesday two possible candidates to run the Federal Reserve over the next few years: current Fed Chair Janet Yellen and Trump's economic adviser Gary Cohn, according to an interview with The Wall Street Journal.

Mr. Trump reiterated that he thinks Ms. Yellen is doing a good job and he has "a lot of respect for her", and said she is still in the running to serve a second four-year term as leader of the central bank. Earlier this month, Politico reported that Yellen was increasingly unlikely to serve another term, while Cohn was the top candidate. She has said only that she will remain in place through the end of her term February 3.

Chief Economic Advisor Gary Cohn (L) and Treasury Secretary Steven Mnuchin speaks in the Brady Briefing Room on U.S. President Donald Trump's tax reform plans on April 26, 2017 in Washington, DC. "But I would certainly, it's something I would discuss with the president, obviously", Yellen said, indicating she has not yet had a conversation with President Trump about her future at the Fed.

Cohn, 56, would be the first business executive to lead the Fed in 38 years, since the brief tenure of G. William Miller, from March 1978 to August 1979. Cohn is considered a Democrat by many Republicans but many Democrats have also expressed resistance to support anyone who has a Goldman Sachs background.

The Federal Reserve Board Chairwoman Janet Yellen testifies before a House Financial Services Committee hearing covering monetary policy on Capitol Hill in Washington, U.S., July 12, 2017.

CBFC chief Pahlaj Nihalani might be asked to step down?
The filmmaker-producer who took over the office as CBFC chief on January 19, 2015 has been in numerous controversies since then. Nihalani further stated, "These people forget they insult not me but the position held by me as the chairperson of the CBFC ".

"She is in the running, absolutely", he told The Wall Street Journal.

"I like her", he said. "I like her. I like her demeanor". Trump also said, "I'd like to see rates stay low. She's historically been a low-interest-rate person".

Janet Yellen is in the running to serve a second term as chairwoman of the Federal Reserve, President Trump said yesterday, completing a remarkable reversal of his position on the campaign trail previous year. He said he expected to announce a nominee by the end of the year.

Yellen's term as Fed chair expires in February of 2018. But since winning the election, Trump has avoided criticizing Yellen, saying that he respects her and likes her low-rate policies.

Yellen, Cohn Are Both Contenders to Lead Fed: Trump to WSJ