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Trump says to make decision on Fed Chair in next few weeks

(Xinhua)    09:41, September 30, 2017

WASHINGTON, Sept. 29 (Xinhua) -- U.S. President Donald Trump said on Friday that he will make his decision on the appointment of the next Federal Reserve Chair in the next few weeks.

"We've had four meetings for Fed chairman, and I'll be making a decision over the next two or three weeks," Trump told reporters on the White House South Lawn.

Trump's remarks came after U.S. media reported that the president had interviewed former Fed governor Kevin Warsh and current Fed governor Jerome Powell in recent days to discuss their potential nominations as the next leader of the central bank.

Other contenders under consideration include Stanford University economist John Taylor, the former BB&T Bank chief executive John Allison, and current Fed Chair Janet Yellen, whose current term expires in February, according to the Wall Street Journal.

As Fed vice chair Stanley Fischer will resign next month for personal reasons, there will be four vacancies in the Fed's seven-member board of governors, giving Trump an opportunity to reshape the central bank by appointing new members.

The president has nominated Randal Quarles, an investment-fund manager and former U.S. Treasury official, as Fed's vice chair of supervision.

The Fed announced last week that it would start a program in October to gradually unwind its 4.5-trillion-U.S.-dollar balance sheet, a years-long process to withdraw its record monetary stimulus since the financial crisis. The next Fed Chair will oversee that process as well as banking regulations.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Hongyu, Bianji)

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