Yellen Deflects Question on Whether She Would Stay on at Fed

  • She repeats ‘I fully intend to serve out my term as chair’
  • Her term expires in Feb.; Trump hasn’t ruled out keeping her

Yellen Says She Fully Intends to Serve Out Term as Chair

Federal Reserve Chair Janet Yellen declined to say whether she would serve a second term at the helm of the U.S. central bank if asked to stay on by President Donald Trump.

“I fully intend to serve out my term as chair,” Yellen said at a press conference Wednesday in Washington, adding, “I have not had conversations with the president about future plans.”

Federal Reserve Chair Janet Yellen speaks at a news conference about her future at the Fed.

Source: Bloomberg

Yellen’s four-year term as chair expires on Feb. 3.

Trump has not indicated if he’ll re-appoint Yellen or name his own choice to lead the U.S. central bank, though he told the Wall Street Journal in April that he’d not ruled out keeping her in place. Top White House economic adviser Gary Cohn said earlier this month the administration hadn’t yet focused on the question.

In response to a separate question, Yellen said she hoped the White House would move soon to nominate candidates for three current vacancies on the Fed’s Board of Governors.

“I do hope very much there will be nominations in the not-too-distant future and that the Senate will take them up expeditiously,” she said.

Trump’s nominees for the Fed chair and governor posts would be subject to Senate confirmation.

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