Mnuchin Says Yellen Yet To Decide Whether To Stay At Fed

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin says Janet Yellen has not said yet whether she plans to remain on the Federal Reserve board when her term as chair ends in February, but the administration is moving ahead with filling other vacancies.

There are currently three vacancies on the seven-member Fed board and there could be a fourth if Yellen decides to leave. Her term as a board member does not end until 2024.

In an interview on Bloomberg TV, Mnuchin said he had breakfast with Yellen on Wednesday from which he came away with the impression that she had not made a decision on her future at the Fed.

Last week, President Donald Trump announced he would nominate Fed board member Jerome Powell as the next Fed chairman, bypassing Yellen.