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17.11 - 02:31
Yellen tells Biden that Fed Chair Powell has done a 'good job' as renomination looms
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cnbc.comTreasury Secretary Janet Yellen said she has discussed with President Joe Biden how he should proceed on naming a Federal Reserve chairman and praised the current holder of the position.
Though she did not disclose any specific plans Biden has, Yellen said she gave solid marks to Chairman Jerome Powell.
«I talked to him about candidates and advised him to pick somebody who is experienced and credible,» Yellen told CNBC's Ylan Mui. «I think that Chair Powell has certainly done a good job.»
Appointed to the top post by former President Donald Trump, Powell's term expires in February. Biden is expected to name someone soon, and Powell is widely expected on Wall Street to be renominated.
However, the Powell Fed has come under criticism in
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