US Fed's Yellen says has not met with Trump to discuss status

Federal Reserve Chair Janet Yellen said Wednesday she has had no further meetings with US President Donald Trump on whether she will stay on as head of the central bank.

"I have not had a further meeting with President Trump," said Yellen, whose four-year term as Fed chair expires in February. "I met with him early in my term, and I've not had a further meeting with him."

"I have said that I intend to serve out my term as chair, and that I'm really not going to comment on my intentions beyond that," Yellen told reporters.

Trump adviser and former Goldman Sachs executive Gary Cohn had been seen as a frontrunner for the post of Fed chief, but his chances seemed to have dwindled after he criticized Trump's response to violent white supremacist protests in Charlottesville, Virginia, last month.

The president this month said he likes and respects Yellen, but that he had not yet made a decision on the Fed succession.

Besides Yellen, the resignation of Vice Chair Stanley Fischer later this month, could leave the Fed with four empty seats, at least until Trump nominee Randall Quarles is confirmed.

But Yellen said she has "full confidence" Fed officials will be able to carry out their responsibilities, and that rules allow the central bank to proceed with its work "even if we are a board of three" pending Quarles' confirmation by Congress.

Still she said she hopes the administration "will make other nominations to fill our slots," because there is a lot of work to do and it is "important to have a broad range of views around the table."

Source: AFP