Donald Trump to nominate Janet Yellen or Gary Cohn in 2018

Next year, you may either see Janet Yellen continue helming the Federal Reserve or you could see a new face in White House aide Gary Cohn, says President Donald Trump.

Speaking in an interview with The Wall Street Journal on Tuesday, the president shed some light on what he wants the United States central bank’s agenda to be: low interest rates and a non-strong-dollar policy.

Here is what he told the newspaper:

“I do like low interest rates. I mean, you know, I’m not making that a big secret. I think low interest rates are good. I like a dollar that’s not too strong. I mean, I’ve seen strong dollars. And frankly, other than the fact that it sounds good, lots of bad things happen with a strong dollar.”

Meanwhile, when looking at who he’ll nominate next year to lead the Fed, the top two contenders are Yellen and Cohn, though he did note that there are two or three others. For the most part, however, it may look like Yellen will lead the Fed until 2022.

“Yeah, there are two or three. But she is – she is in the running, absolutely. I like her. I like her demeanor. I think she’s done a good job. I’d like to see rates stay low. She’s always been – you know, she’s historically been a low-interest-rate person, a believer,” he said.

Cohn and Yellen are also two individuals who don’t like a strong dollar.

Whoever Trump nominates, it looks like it’s just going to be more of the same. No auditing of the Fed, no Austrian or libertarian at the Fed and the continuation of a destructive monetary policy.

Sad!

Like this article? Get ECN delivered to your inbox daily. Subscribe here.

Comments

  1. Kevin Beck says:

    I guess he needs to decide whether he wants Moron #1 or Moron #2. I can say, “disaster”; can he?

Leave a Comment