Yellen can serve a separate governor term until 2024 after her term as chair ends in February
Federal Reserve Chair Janet Yellen has yet to decide if she will continue serving the central bank after President Donald Trump decided not to renominate her to the role, according to Bloomberg report.
Yellen’s term as chair ends in February. She can continue serving the central bank in a separate governor term that will run until 2024.
“I don’t think she’s made any decision in regards to that one way or another yet,” Treasury Secretary Steven Mnuchin said in an interview with Bloomberg Television.
Mnuchin’s remarks follow the announcement that Trump plans to nominate Fed Governor Jerome Powell to replace Yellen. The nomination is subject to confirmation by the Senate.
Trump has the opportunity to name three more governors to the seven-member board, including a governor that will serve as vice chair. If Yellen decides to leave the board, the president’s search may expand.
“We’re turning our attention to the other positions and we look forward to filling them,” said Mnuchin. “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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Yellen’s term as chair ends in February. She can continue serving the central bank in a separate governor term that will run until 2024.
“I don’t think she’s made any decision in regards to that one way or another yet,” Treasury Secretary Steven Mnuchin said in an interview with Bloomberg Television.
Mnuchin’s remarks follow the announcement that Trump plans to nominate Fed Governor Jerome Powell to replace Yellen. The nomination is subject to confirmation by the Senate.
Trump has the opportunity to name three more governors to the seven-member board, including a governor that will serve as vice chair. If Yellen decides to leave the board, the president’s search may expand.
“We’re turning our attention to the other positions and we look forward to filling them,” said Mnuchin. “It’ll be as well a very robust process of considering people and interviewing people for them. They are very important jobs to fill.”
Related stories:
Fed rate hike in the offing?
New York Fed president to retire
