President Donald Trump’s nomination for the next Federal Reserve Chair has come down to two or three people. Although the market seems to think it’s former Fed Governor Kevin Warsh or current Fed Governor Jerome Powell, the president may have dropped a hint in a recent interview.
Speaking with Fox Business Network’s Lou Dobbs on Wednesday, President Trump called Fed Chair Janet Yellen “very impressive” following a recent meeting a couple of days ago.
As previously reported, many suggest that the president may renominate Yellen to head the United States central bank for another four years.
“She was in my office a few days ago. She is very impressive. I like her a lot. I would certainly think about it,” he said.
“I would like to say you (as president) would like to make your own mark, which is maybe one of the things she has a little bit against her. But I think she is terrific. We had a great talk. And we are obviously doing very well together, looking at the markets.”
This is in stark contrast from what he said during the 2016 election. Candidate Trump called the stock market a big fat bubble, accused the central bank of being a political tool and slammed Yellen for trying to help then-President Barack Obama.
Former Reagan budget director David Stockman had this to say:
I can’t believe that this is the same person who said the 2016 stock market was a “big fat ugly bubble” pic.twitter.com/ml5lJoYhv4
— David Stockman (@DA_Stockman) October 26, 2017
It may not be too surprising for Trump to renominate Yellen. Ivanka Trump had a breakfast meeting with Yellen in July (SEE: Breakfast at Yellen’s: Ivanka Trump met with Janet Yellen in July). If Trump does tap Yellen, you can bet your bottom devalued dollar that Ivanka had something to say about it.
“Never believe a statement by government personnel until it has been officially denied.”
Or the converse: “Never doubt the evaluations of an employee until the boss approves.”
President Trump had stated that he considered Janet Yellen’s tenure as leader of the Federal Reserve to be a disaster. When he suddenly reversed course and praised her, she should have immediately considered her job in jeopardy. Although she also said she didn’t plan on serving a second term.
Apparently, she got her wish: She won’t be serving a second term.