WSJ: trump called Gary con one of the candidates to head the fed

WSJ: trump called Gary con one of the candidates to head the fed


NEW YORK, July 25. /TASS/. President Donald trump on a confidential basis considering the Director of the National economic Council Gary con as a successor to the head of the Federal reserve system (FRS) Janet Yellen, the term of which expires next year. The head of state said in published on Tuesday of interview to The Wall Street Journal (WSJ).

Trump said that not yet decided whether to replace Yellen. To her, the President “continues to have a lot of respect,” leaving open the possibility of extending its powers at the head of the fed. “It absolutely remains on the list [of candidates]. I like her and her demeanor, she does a fine job,” said the US President.

He sees the main advantage of Yellen that her basic interest rate remains low. “I would like to rate remained low. She [Yellen] is a supporter of historically low rates”, – said the head of state.
He was named Director of the National economic Council at the White house Gary con candidate number two for the post of head of the fed. “He is not aware, but it is. I really think he likes doing what he’s doing now,” said trump. He revealed that there are “two or three candidates” for the post of head of the fed, but refused to name them.

In March the leadership of the open market Committee, the fed announced to raise the base interest rate from 0.5 to 0.75% up to 0.75-1% per annum. The fed is not signalled accelerating the pace of normalization of monetary policy in the United States. In its statement, the Committee stressed that this process will be gradual. In line with this expected two more rate hike this year and three in 2018.

The U.S. Federal reserve, created on the basis of the Federal reserve act of December 23, 1913, functions as a Central Bank. It implements the monetary policy of the United States by affecting the conditions of monetary circulation and the rate loan. The main goal in this is to achieve maximum employment, crisis prevention and the maintenance of inflation at a low level. The fed includes 12 regional banks in major cities.

Source