Ed. Note: This article first appeared in Fortune
Despite routinely criticizing Janet Yellen throughout his campaign, President Donald Trump now says he’s open to the possibility of her serving another term as chairman of the Federal Reserve.
In an interview with the WSJ, Trump the left the door open for the Yellen’s renomination once her tenure is up in 2018.
The President said she was “not toast” and noted that he likes and respects her.
Also of note is the president’s alignment with Yellen’s policy of keeping the federal rate near zero.
“I do like a low-interest rate policy, I must be honest with you,” he told the publication.
In November 2015, he called Yellen “highly political” and said “she’s not raising rates…because Obama told her not to, because he wants to be out playing golf in a year from now and he wants to be doing other things and he doesn’t want to see a big bubble burst during his administration.”
Trump may not have been entirely off base when he called Yellen a savvy politician.
In February, Yellen was asked to testify before the Senate Banking Committee on the economic impact of a number of Trump’s policies, including proposed tax reforms, immigration, and climate change.
However, she refrained from making judgment calls.
“We recognize that there may be significant economic policy changes and that those changes could affect the outlook,” Yellen said then.
“We don’t yet have enough clarity on what changes will be put in place to really clearly factor those policy changes into the economic outlook.”
Yellen will be up for renomination in February of next year.
Posted by: The Trust Advisor