With President Donald Trump reportedly changing his mind “every day” about who he will appoint to chair the Federal Reserve, many are doubting whether Federal Reserve Chairwoman Janet Yellen is usually likely to stay on for a second term.
One former Dallas Federal Reserve CEO said she should not even want the appointment.
“If I could wear her flats, I could be saying to myself, ‘Do I want to stay?'” Richard Fisher said Thursday. Fisher was president in addition to CEO of the Federal Reserve Bank of Dallas coming from 2005 to 2015.
“There’s no upside for Janet to stay,” he said. “She can go anywhere she wants. She can be chancellor of any university, be a professor anywhere, be on any boards,” he said.
Fisher said in which in his mind, Yellen has done a not bad job steering the central bank. however as Fed Governor Jerome “Jay” Powell in addition to Stanford economist John Taylor seem to be closing in on the job, Fisher said there’s little inside item for Yellen.
Fisher was speaking on CNBC’s Power Lunch.
Fisher’s remarks come as Trump is usually struggling with members of his own party over the crucial appointment. Three House Republicans have called on the president not to reappoint Yellen when her term expires in February. the item’s unclear when Trump will announce his decision, though he has previously indicated the item could beas soon as Nov. 3.
Trump has reportedly met with Yellen multiple times to interview her for the position.
“I also met with Janet Yellen, who I like a lot, I actually like her a lot,” he’s said.
Fisher also commented on which Fed chair he thought could be best for the stock market. The appointment of Taylor or Powell could be equally likely to juice stock returns, he said.