Mnuchin: Yellen Undecided On Diminished Role at Fed
Federal Reserve Chair Janet Yellen hasn’t yet decided whether she’ll stay at the central bank in a diminished role when her term as chair ends in February, Treasury Secretary Steven Mnuchin said.
“I don’t think she’s made any decision in regards to that one way or another yet,” he said in an interview on Bloomberg Television.
Mnuchin spoke days after President Donald Trump nominated Fed Governor Jerome Powell to run the U.S. central bank, a move that’s subject to Senate confirmation. Though she’d no longer be chair, she can continue serving a separate term as a governor that runs until 2024.
Trump still has a chance to appoint three more Fed governors to the seven-member board, four if Yellen leaves the board.
“We’re turning our attention to the other positions and we look forward to filling them,” Mnuchin said. “It’ll be as well a very robust process of considering people and interviewing people for them. They are very important jobs to fill.”