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Saturday, November 18, 2017

Trump says to decide Fed chair in two, three weeks

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By Agence France-Presse

US President Donald Trump indicated Friday he would select his nominee to be the next Federal Reserve chair within weeks, after meeting potential candidates.

Trump said he would decide who chairs the US central bank, after interviewing Kevin Warsh, Jerome Powell and two other candidates.

This file photo taken on April 2, 2009 shows the US Federal Reserve building in Washington, DC. (AFP PHOTO / KAREN BLEIER / MANILA BULLETIN)

US Federal Reserve building in Washington, DC.
(AFP PHOTO / KAREN BLEIER / MANILA BULLETIN)

“I’ve had four meetings” Trump said as he left the White House for a weekend at his golf club in New Jersey. “I’ll be making a decision over the next two or three weeks.”

The US leader has to decide whether to replace Janet Yellen as Fed chair when her four-year term is up in February.

On Thursday, Trump met Kevin Warsh, a Federal Reserve governor during the 2008 financial crisis and former Morgan Stanley banker.

Trump also reportedly spoke to current Federal Reserve governor Powell.

The US president may have to fill more than one spot on the bank.

Federal Reserve Vice Chair Stanley Fischer has announced he will retire next month.

The 73-year-old will step down on October 13, about eight months before his term as vice chair was due to expire, and two and a half years before the end of his term on the board.

That leaves Trump with a rare opportunity to set the tone of the institution which decides interest rates and has a huge role in steering the global economy.

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