Mnuchin: Yellen Un­de­cided On Di­min­ished Role at Fed

The Bond Buyer - - Market News -

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.”

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