Business
15:09, 12-Jul-2017
Trump likely to replace Yellen as Fed chair
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US President Donald Trump is increasingly unlikely to nominate Federal Reserve Chair Janet Yellen next year for a second term, and National Economic Council Director Gary Cohn is the leading candidate to succeed her.
Sources in the White House, the Treasury Department, and on Capitol Hill said that if Cohn decides he wants the job, he's likely to get it.
Cohn, a Democrat and former Goldman Sachs president, did not work on Trump's campaign and only got to know him after the November election.
Yellen took over from Ben Bernanke as Fed chair in February 2014, with the US economy recovering from the 2008 financial crisis. She has put a priority on growth in jobs and wages and a broad recovery in US household wealth.