President Donald Trump is preparing to select the next Fed chair to replace Janet Yellen.
Janet Yellen’s four-year term as the Federal Reserve chair will come to an end in February. President Trump is already picking her possible replacements and there are currently five candidates on the short list.
Here are the five likely candidates for the next Fed chair.
- Janey Yellen — It’s possible that Trump will choose Yellen for another term in the role, but unlikely.
- Kevin Warsh — This former Fed governor has been involved for years in the White House’s economic policy and served during Bush’s administration.
- Jerome Powell — Treasury Secretary Steven Mnuchin has praised this candidate , who worked at the Treasury Department when George H.W. Bush was in office.
- John Taylor — He has been an advisor to the GOP for decades and is a strong conservative economist.
- Gary Cohn — This candidate has been working with Trump the last few months and is the former president of Goldman Sachs Group Inc (NYSE:GS).
“Honestly I like them all, I do,” Trump reportedly said in a statement obtained by The Washington Post while speaking about the next Fed chair candidates. “I have a great respect for all of them. But I will make a decision.”
A recent survey of economist claims that President Trump is most likely going to pick Jerome Powell as the next Fed chair. 40 economists took part in the survey and more than half believe that Powell is Trump’s most likely choice.
As of this writing, William White did not hold a position in any of the aforementioned securities.