Donald Trump should reappoint Janet Yellen as Fed chair, says Stanley Fischer

Janet Yellen is a "safe pair of hands", says Fischer (above). PHOTO: REUTERS

WASHINGTON (AFP) - President Donald Trump should reappoint Federal Reserve chair Janet Yellen, who has been a surefooted guide for the US economy, outgoing Fed vice-chair Stanley Fischer said on Friday (Oct 13).

Trump has yet to name a replacement for Yellen, whose four-year term as Fed chair expires in February, and the White House said on Thursday that the President will continue interviewing candidates.

"He should appoint Janet Yellen," Fischer, whose last day was Friday, told CNBC.

"I think many of the qualities that Janet has - which is that Janet is a safe pair of hands and very good at explaining what she's doing, and persuading people of what she's doing - I think that's critically important."

Yellen was appointed by former president Barack Obama and was criticised by Trump during last year's presidential election, but he has since said he likes her.

Yellen has kept mum on her own intentions so far, but the remarks by Fischer, a close ally on the Federal Reserve Board, signalled she may be willing to stay on.

Trump has said he is considering reappointing Yellen.

But he is also mulling others, including White House senior economic adviser Gary Cohn.

Reportedly, former Fed governor Kevin Warsh and current governor Jerome Powell have also been interviewed for the job.

White House Chief of Staff John Kelly told reporters on Thursday that a decision was still "some time away."

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