Federal Reserve Chair Janet Yellen may have found an unlikely ally in President Donald Trump on Tuesday.
Bloomberg is reporting that sources close to the situation say Yellen’s meeting with President Trump went smoothly and ostensibly impressed the former central bank critic. In fact, as everyone else is betting on Kevin Warsh, John Taylor or Jerome Powell, the president made decide to renominate Yellen to a second term.
The White House interview was described as serious and not just a social or courtesy visit.
A Fed spokesperson has yet to comment on the reports.
President Trump has said he will decide on his Fed nominee by November 3. The market is betting on Powell, administration officials are pushing for Powell, the media want Taylor and some conservatives are calling for Warsh.
The president has gone back and forth on monetary policy over the last two years. He first slammed the Fed, artificially low interest rates and Yellen. Today, he is praising the Fed, celebrating low rates and perhaps championing Yellen.
How about none of them and just end the Fed?
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