Trump May Renominate Federal Reserve Chairwoman Janet Yellen For Another Term

Federal Reserve Board Chairwoman Janet Yellen / Getty Images

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President Donald Trump is leaving the possibility open for allowing Janet Yellen to remain the chairwoman of the Federal Reserve instead of replacing her, according to the Wall Street Journal.

Yellen's term expires at the end of January 2018, and many have questioned whether the president would ask her to step down after he said he would most likely not reappoint her on the campaign trail.

"I like her, I respect her," Trump said to the Wall Street Journal. "It's very early."

Trump said that he has spoken with Yellen in the White House and that she was not "toast" when her term ends.

In the interview, Trump also said that he prefers the Federal Reserve keeps interest rates low, which it has been doing since December 2008.

At that time, the Fed brought rates down to near zero and has only raised them three times since then—in December 2015, December 2016, and March 2017. Now the federal funds rate is at the target range of 0.75 to 1 percent.

"I do like a low-interest rate policy, I must be honest with you," Trump said. "I think our dollar is getting too strong, and partially that's my fault because people have confidence in me."

"But that’s hurting—that will hurt ultimately," he said. "Look, there's some very good things about a strong dollar, but usually speaking the best thing about it is that it sounds good."

Trump said it is hard to compete when other countries are devaluing their currency and the United States has a strong dollar.

Ali Meyer

Ali Meyer   Email Ali | Full Bio | RSS
Ali Meyer is a staff writer with the Washington Free Beacon covering economic issues that expose government waste, fraud, and abuse. Prior to the Free Beacon, she was a multimedia reporter with CNSNews.com where her work appeared on outlets such as Drudge Report and Fox News. She also interned with the Heritage Foundation and Pacific Research Institute. Her Twitter handle is @DJAliMeyer, and her email address is meyer@freebeacon.com.