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Donald Trump is open to renominating Janet Yellen as Fed chair: report

LiveMint logoLiveMint 13-04-2017 Christopher Condon

Washington: President Donald Trump indicated for the first time since taking office that he’s open to renominating Federal Reserve Chair Janet Yellen for another term that would begin in February.

“I like her, I respect her,” Trump said in an interview Wednesday with the Wall Street Journal. “It’s very early.”

Trump also said, “I do like a low-interest rate policy, I must be honest with you,” the paper reported.

Yellen sometimes has been criticized during her term, including by leading Republican lawmakers, for being too slow to raise rates as the economy recovered from the financial crisis and subsequent recession.

Trump shifted from praising Yellen to criticizing her over the course of his presidential campaign, saying in September she should be “ashamed of herself” and accusing her of doing a “political job” that’s led to a “very false economy.”

Yellen’s four-year term as the first woman to lead the US central bank expires 3 February.

Treasury secretary Steven Mnuchin, who sat in on part of the interview, according to the report, said Trump was very close to nominating someone to fill the vacant Fed role of a vice chair for supervision, a crucial job in determining the shape of banking regulation. Bloomberg

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