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Trump, Yellen to Meet, Discuss Fed Job 10/17 06:08

   WASHINGTON (AP) -- Federal Reserve Chair Janet Yellen will meet with 
President Donald Trump on Thursday to discuss the possibility of a second term 
as head of the central bank, a source familiar with the administration's Fed 
search said Monday.

   Trump has said Yellen is one of several candidates he is considering for the 
Fed's top job. Yellen's current term ends on Feb. 3.

   Trump met with Stanford University economics professor John Taylor last 
week. He interviewed former Fed board member Kevin Warsh and current Fed board 
member Jerome Powell late last month. Trump has also said economics adviser 
Gary Cohn is being considered.

   Treasury Secretary Steven Mnuchin said last week that the president hopes to 
have a decision on the Fed position within a month.

   Yellen, the first woman to head the nation's central bank, was sharply 
criticized by Trump during the campaign as being too political in the way she 
handled the Fed job. Trump said she was keeping interest rates low to favor 
Democrats. But since taking office, Trump has not criticized Yellen and has 
instead praised her, saying she's "done a good job" and favors low interest 
rates as he does.

   In addition to the top position, Trump has several other vacancies to fill 
on the Fed board.

   Utah financier Randal Quarles, Trump's first Fed nomination, was sworn in on 
Friday. Quarles will fill the key job of vice chairman for supervision, the 
Fed's top policy job for overseeing banking regulations.

   But as Quarles was joining the board, Fed Vice Chairman Stanley Fischer was 
stepping down.  That leaves the seven-member board with three vacancies, the 
same number of openings it has had for most of this year.


(KA)

 
 
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