Yellen defies Trump to commit to Fed role until 2018

Faced criticism during US President-elect's campaign

Laura Dew
clock • 1 min read

Federal Reserve chairman Janet Yellen has reassured markets that she will stay in the role for her full term, despite criticism from US President-elect Donald Trump.

There had been speculation she would resign after Trump's criticism that her policies were suited to benefit President Obama and that she waited too long to raise interest rates. In a statement to Congress' Joint Economic Committee, Yellen (pictured) said: "I was confirmed by the Senate to a four-year term, which ends at the end of January of 2018, and it is fully my intention to serve out that term." Buxton: Yellen could resign on Trump victory to preserve Fed integrity She also increased speculation about a rate hike in next month's Federal Open Market Committee meeting by statin...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Economics

Early Powell departure could be an 'unexpected gift' for EMs

Early Powell departure could be an 'unexpected gift' for EMs

Trump claims he will replace chair sooner

Eve Maddock-Jones
clock 01 July 2025 • 3 min read
BoE's Andrew Bailey: Pick-up in inflation makes outlook uncertain

BoE's Andrew Bailey: Pick-up in inflation makes outlook uncertain

UK inflation at 3.4%

clock 27 June 2025 • 2 min read
Jerome Powell warns of long term inflation if Trump settles on higher tariffs indefinitely

Jerome Powell warns of long term inflation if Trump settles on higher tariffs indefinitely

Policies' economic impacts ‘uncertain’

Eve Maddock-Jones
clock 25 June 2025 • 3 min read
Trustpilot