Departing Federal Reserve Vice Chairman Stanley Fischer on Friday called on President Trump to reappoint his boss, Janet Yellen, to stay at the helm of the central bank.
“He should appoint Janet Yellen,” the central banker said Friday at a World Bank conference.
Fischer announced in September that he would resign on Friday, Oct. 13. He’s served on the Fed’s Board of Governors since 2014, and his term as vice chairman would have run through June. His term as governor would have run until 2020.
In an interview on CNBC Friday, Fischer let loose with his endorsement of Yellen continuing to lead the Fed after her term expires at the end of January.
“Janet is a safe pair of hands,” he said. Fischer did not comment on other candidates Trump is said to be considering for the post.
Fischer did say, however, that while having a Ph.D. in economics is an advantage in running the Fed, it is not necessary for a smart person.
Several of the candidates reportedly in consideration lack that credential, including Gary Cohn, Trump’s economic adviser; Jerome Powell, a Fed governor with a background in finance and in the George H.W. Bush Treasury; and Kevin Warsh, a former Fed governor.
Trump met Wednesday with John Taylor, a prominent Stanford academic economist, to talk about the job, the Wall Street Journal reported. The president has also said that Yellen, who has a Ph.D., is in contention for the job.
Treasury Secretary Steven Mnuchin said Friday that Trump hopes to decide on a nominee in the next month, but that there is no strict deadline.
