Trump said to meet with Kevin Warsh about Federal Reserve leadership

Trump said to meet with Kevin Warsh about Federal Reserve leadership

The Federal Reserve operates outside the scope of the administration, meaning the person Trump chooses for the job will not be beholden to Trump's directions.

Warsh, 47, is a former Fed governor who has been critical of the central bank since leaving the central bank in 2011. Several White House officials had described the short-list of candidates as existing only in Mr. Trump's own mind.

Warsh is married to Jane Lauder, granddaughter of Estee Lauder, the cosmetics icon. Her father, Ronald Lauder, is a longtime Trump friend. He is now a distinguished visiting fellow at Stanford University's Hoover Institute and a lecturer at the Stanford Graduate School of Business.

Trump has previously said he wants to conclude the search for his Fed chief by the end of the year, though prior to the White House sit-down with Warsh, he had not made any public moves to begin that process.

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In an interview this summer, Trump mentioned Cohn as another candidate for the Fed job.

"I do respect Chairman Yellen a lot". But Cohn's prospects appeared to dim after he was publicly critical in August of Trump's response to the protest violence in Charlottesville, Va. Yellen's term is up in February of next year.

"He doesn't know this, but yes he is", Trump said. Vice Chairman Stanley Fischer plans to step down in October.

In his current role with the Fed, Powell heads the oversight committee, which is most directly responsible for monitoring big banks. His nomination is pending.

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