Trump May Renominate Federal Reserve Chairwoman Janet Yellen For Another Term

Treasury Secretary Janet Yellen (Getty Images)
April 12, 2017


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.