Monday, October 24, 2016

Yellen seen resisting pressure to resign if Trump wins election

Chicago Tribune
October 24, 2016

Federal Reserve Board Chair Janet Yellen testifies during a hearing before the House Financial Services Committee September 28, 2016 on Capitol Hill in Washington, DC. 
(Alex Wong /)

Federal Reserve Chair Janet Yellen will resist pressure to step down should Donald Trump be elected president next month.
That's the firm conviction of people who've known and worked with her over the years. They described speculation in financial markets to the contrary as off base.
"It's ridiculous," former Fed Vice Chair Alan Blinder said of suggestions Yellen would leave the central bank if Trump wins the Nov. 8 election. "I'm just as sure as I can be that she would never do that," added Blinder, who worked with Yellen at the Fed from 1994 to 1996.
Trump, who is running well behind Hillary Clinton in many opinion polls, has slammed the Fed chief for keeping interest rates low, a policy he says is designed to help cement departing President Barack Obama's legacy.

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