Trump to meet Fed chair Yellen to discuss potential renomination, says WSJ


Donald Trump will meet US Federal Reserve chair Janet Yellen to discuss a potential renomination to head the central bank.
Donald Trump will meet US Federal Reserve chair Janet Yellen to discuss a potential renomination to head the central bank.PHOTOS: AFP, EPA-EFE

WASHINGTON (AFP) - Donald Trump is set to meet US Federal Reserve chair Janet Yellen this week to discuss a potential renomination to head the central bank, The Wall Street Journal reported on Monday (Oct 16).

Yellen's term as chief of the powerful banking institution is due to expire in February.

Trump has already met with several candidates who could replace the 71-year-old Yellen, including financier Kevin Warsh, Fed governor Jerome Powell and Stanford University economist John Taylor.

As a Republican presidential candidate, Trump accused Yellen - who was nominated by Democrat Barack Obama in 2014 - of maintaining low interest rates to support Democrats.

But upon taking over the White House, Trump praised Yellen for keeping interest rates low.

 
 

Yellen, who hold weekly meetings with Treasury Secretary Steve Mnuchin, has met Trump just once since his election, in February.

She also met in July with Trump's eldest daughter and senior adviser Ivanka.