Trump is reportedly down to a final 5 in his search for the next Fed chair

Trump Yellen 4x3Carlos Barria/Reuters; Composite by Bob Bryan/Business InsiderPresident Donald Trump and Fed Chair Janet Yellen

President Donald Trump is nearing a choice for the next leader of the Federal Reserve, and the list of candidates is down to five, according to a report.

Bloomberg’s Jennifer Jacobs and Saleha Mohsin reported Tuesday that Trump’s senior advisors have produced a short list of candidates for the position. They are:

  • Janet Yellen, current Fed chair: Trump originally bashed Yellen during the campaign, but since taking office has appeared more receptive to the re-appointing the chair. According to Bloomberg, Yellen does not have much support among Trump’s advisors.
  • Gary Cohn, National Economic Council chair and former Goldman Sachs chief operating officer: Cohn, Trump’s top economic advisor, started popping up in Fed chair rumours in late Spring, but reports suggested that his rebuke of Trump following the violence in Charlottesville hurt his chances significantly.
  • Kevin Warsh, former Federal Reserve Board governor: Warsh met with Trump about the position last week.
  • Jerome Powell, current Federal Reserve governor: Powell has met wth Trump about the position, according to Bloomberg.
  • John Taylor, economist at Stanford: According to Bloomberg, Taylor is favoured among the more fiscally conservative members of Trump’s team, but is the only short list candidate not to speak to Trump.

Trump said on Friday that his decision on the Fed chair will come in the next “two to three weeks.” Current chair Janet Yellen’s term expires in February.

Check out the full Bloomberg story here.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.