‘Trump hopes to an­nounce Fed chair within a month’

The Korea Times - - WORLD BUSINESS -

WASH­ING­TON (AP) — Treasury Sec­re­tary Steven Mnuchin said Thurs­day that Pres­i­dent Don­ald Trump hopes to de­cide within a month whom he will choose to lead the Fed­eral Re­serve start­ing next year but is still go­ing through the in­ter­view process.

Trump said two weeks ago that he had had four meet­ings to in­ter­view po­ten­tial nom­i­nees for Fed chair and ex­pected to de­cide within two to three weeks.

In­ter­viewed on CNBC, Mnuchin said he is par­tic­i­pat­ing with the pres­i­dent in the in­ter­views. He wouldn’t con­firm a pub­lished re­port that his own fa­vorite can­di­date is Jerome Pow­ell, the only Repub­li­can now on the Fed’s board.

“There has been no de­ci­sion made, and it would be in­ap­pro­pri­ate for me to com­ment on any of the peo­ple be­ing con­sid­ered one way or another,” Mnuchin said.

The re­port by Politico quoted three un­named sources as say­ing that Mnuchin was pro­mot­ing Pow­ell for the top Fed job in part be­cause he knows Pow­ell well and sees him as a safe choice.

Trump’s chief of staff, John Kelly, told re­porters at the White House on Thurs­day that the in­ter­view process is pro­ceed­ing and that a de­ci­sion was “some time away.”

“All of the peo­ple that have been in to in­ter­view have been re­ally first-round draft choices, and we have more to come,” Kelly said.

The Wall Street Jour­nal re­ported that Trump had in­ter­viewed John Tay­lor, a Stan­ford Univer­sity economist, on Wed­nes­day, with Mnuchin and Vice Pres­i­dent Mike Pence at­tend­ing the meet­ing.

The other can­di­dates the White House has said Trump is con­sid­er­ing for the Fed job are the cur­rent chair, Janet Yellen, whose four-year term will end in Fe­bru­ary; Kevin Warsh, a for­mer Fed board mem­ber; Gary Cohn, head of the pres­i­dent’s Na­tional Eco­nomic Coun­cil; and Pow­ell.

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