Yellen, Warsh Reportedly Drop Out Of Fed Chair Race: Politico

Tyler Durden's picture

Remember all those articles yesterday about how Janet Yellen has a "great friend" in Trump, and not to discount her? Well, at least according to Politico, the race for Janet Yellen and Kevin Warsh is now over. According to Politico's Ben White (so take it with a grain of salt), with Powell and Taylor emerging as the two Fed Chair finalists - with a likely outcome that both will enter, one as Chair and the other as Vice Chair - both Yellen and Warsh are officially out. To wit:

It’s hard to imagine but this saga gets stranger all the time. On Wednesday, one top MM source who talks regularly to President Trump said the only finalists are Jay Powell and John Taylor and the question is just which one gets it. This person said Janet Yellen is out as is Kevin Warsh. Gary Cohn, as we’ve reported, has been out of it for weeks now. But…

 

Another senior source very close to the process said not to assume that it’s just a Powell vs Taylor fight because “Trump changes his mind about it every day.” And then Trump appeared on Fox Business with Lou Dobbs, a regular presidential kibitzer, and asked Dobbs who HE thought should be the Fed chair. Here’s the remarkable exchange.

 

“TRUMP: Tell me who your preference is. … DOBBS: I think I -- may I constrain myself? … TRUMP: Yes. … DOBBS: Because an ad hoc advisor to the president – TRUMP: No, but I’d love to hear it. You could even cut it out if you want. You don’t have to -- I would love to hear you. I only want that from people I respect. … DOBBS: I personally believe that Janet Yellen might be worth keeping.

 

“TRUMP: I tell you what, she was in my office three days ago. She was very impressive. I like her a lot. I mean, it’s somebody that I am thinking about. I would certainly think about it.” Video.

While markets reacted modestly to the news, we would not take this anonymously cited "report" as gospel, not just because the source is conflicted and has been openly biased for Jay Powell, but because Trump has a habit of changing his mind several times during the hour, let alone the day.

Bookies' odds continue to prefer Powell...

Elsewhere, Reuters reported that Powell is the most likely next Fedi chair:

Jerome Powell likely will be the next Federal Reserve chairman, according to a slim majority of economists in a Reuters poll - but most of them said current Fed Chair Janet Yellen would be the best option.

 

Just over half the 40 economists who participated in the survey, taken in the past few days, tipped Fed Governor Powell to be appointed chair by U.S. President Donald Trump when Yellen's current four-year term ends on Feb 1, 2018.

 

Powell, a lawyer and former investment banker, has served as a member of the Fed's Board of Governors since May 2012.

 

"The most continuity between Fed chairs would be Yellen to Powell. Given where we are in the tightening cycle some consistency would be welcomed by financial markets," said Ryan Sweet at Moody's Analytics.

 

"A regime change can be a little more rattling and unnerving for markets."

And interestingly, gold prices bounced back a little on the Yellen/Wasrh headlines...

And equity market liquidty disappeared...

But if true, well... thanks for the memories:

 

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TylerDurden6mil's picture

What if we had no fed chair?

NoDebt's picture

What if we had no Fed?

Nah, that's just crazy talk.

 

JRobby's picture

The crash is scheduled

jbvtme's picture

a couple of christian goy front runners??? interesting

Bes's picture

christian or jew doesn't matter

there are plenty of goy puppets willing

to muder, lie, cheatr, steal, enslave

other goys for profit

-----

end the fed!

everything else is playing in the sanbox on the margins

ParkAveFlasher's picture

Looks like it's back to Etsy for Yellen.

LightBeamCowboy's picture

When the Chosenites turn the operation over to a Goy, you know something big is about to go down that they don't want to take the blame for.

shizzledizzle's picture

Don't bet on it... Even if it's Taylor I expect a full 180 when he gets briefed on the first day. They'll teach any hawk to coo like a dove.

TuPhat's picture

Trump will choose the one he is told to choose and that person will do as they are told.  Same as always.

Ron_Mexico's picture

But the real question still remains:  will the "Day of the Rope" make the reptilian overlords finally show their hand?

Nexus789's picture

Thats the only thing that makes any sense. 

mofreedom's picture

They'd have to sit on the floor.

Gead's picture

I recall a movie "Suppose they gave a war and nobody  came?"  Imagine this musical 'chairs' game had no takers. Everyone just walked away and decided to play some other. What a wonderful world it could be. https://www.youtube.com/watch?v=V1bFr2SWP1I

mily's picture

Karshkari! here I come!

shizzledizzle's picture

I'm still not calling the bets off.

DEMIZEN's picture

bullish on rumours.

pc_babe's picture

Abolish the FED. ..Start by not appointing anyone. Just let the chairs sit empty

Byrond's picture

Goodbye bubbles and snuggles. The big hungry bear is loose! Run!

DavidC's picture

If Yellen wants to continue as Fed chair we have incontrovertible proof that she is insane.

Take the money, run, write the book and get well paid speeches.

DavidC

Byrond's picture

Or hide in a bunker when all the Obamabubbles blow up in yo faces.

Cluster_Frak's picture

Trump should appoint Trump for Fed chair. 

redmudhooch's picture

Ron Paul is looking for work I hear...

E.F. Mutton's picture

Appoint a hyperrealistic sex doll with Microsoft's Tay as the AI

At least it would be amusing.

SmilinJoeFizzion's picture

Fed Chair named Jerome?

buzzsaw99's picture

hey whitey, where's your hat?  [/al czervik, caddyshack  ]

overmedicatedundersexed's picture

the .01% like both..so win win for them..the rest of us not so much

liqmyace's picture

Either of the fianlists Jewish?

liqmyace's picture

If not he will reappoint Yellen

aliens is here's picture

Whores like Yellen have no consicous not offense to whores who actually work(FK) for a living.

Umh's picture

Not actually the word you were looking for.

consicous//Conscience

Honest Sam's picture

This makes about as much difference as adding stink to dogshit.

HisBoyElroy's picture

Madoff
Greenspan
Defiled and dishonored the financial system.

Weinstein
Toback
Defiled and dishonored women.

Kissinger
Wolfowitz
Feith
Abrams
Defiled and dishonored the US gov and military.

Kristol
Krauthammer
Blitzer
Defiled and dishonored journalism.

See a pattern here.

JailBanksters's picture

Only 4 Chairs and 5 Contestants

Start the music Donald

 

surfvin's picture

My shortlist for fed chair: Antal Fekete,Ron Paul,Jim Wlillie,Chris Powell,Rob Kirby,David Duke.

redmudhooch's picture

Shut the parasites down.

This is the only good option for America.

redmudhooch's picture

President Wilson’s Deathbed Comments About the Fed Were Right

http://www.theamericandreamfilm.com/the-cast/woodrow-wilson.php

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit... all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world, no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men."

Once elected, President Wilson obeyed his dark masters and enacted unprecedented changes to our great Constitution. In that single year of 1913, President Wilson signed the Federal Reserve Act and the Revenue Act of 1913, chaining all future Americans to the dual horrors of the FED and the IRS. In order to make these acts binding and appear legitimate to Americans, President Wilson pushed through congress two Constitutional Amendments: the 16th and 17th Amendments. These two amendments remain in our Constitution like a malignant cancer destroying the once healthy body of our great nation. The year 1913 stands as the year that America changed forever and the seminal year in Federal Reserve history. It is time to repeal these amendments, and right the wrongs that Wilson did to our great nation.

President Wilson knew what he did was wrong. After serving the dark forces, he would later lament in his diary, "I have unwittingly ruined my country."

Wilson also broke his campaign promises and took America into WW1, and later the failed League of Nations. Wilson shows us a revelation that Americans must guard against elected officials who guide us into unrighteous wars and desire to establish entangling international systems of rules, organizations and government.

Ron_Mexico's picture

Yellen knows this balloon is headed straight for the power lines.

Mena Arkansas's picture

Maybe they want a goy as fed chair so when they crash the economy leading to the largest depression ever the jews can avoid the blame.

Raul44's picture

To be honest, and I would never believe to say that, she really was one of better CB's. Sure she isnt of Austrian school and did kept low IR's, but she did not QE'd during her time and "talks" combined with low IR's were the only things keeping markets going without too serious events. Considering monetary situation Bernanke created, one have to acknowledge it as an achievement. Things also did not ended up like people were predicting, that she will be even worse and printing more than Bernanke.

Of course, this is not enough. To cure economy you really have to restructure debt, let markets crash(read re-price) completely without intervention and revert socialist laws, but at least for her false beliefs she did not added even more fuel to the fire as pretty much everyone thought would happen. 

SidSays's picture

"To be honest....she really was one of better CB's....."

Bwahahhhaaaha....

For what? The economy or the establishment?

She's a brain dead technocrat doing what she's been programmed to do...

Tick...
Tock...

ROTFLMAO...

Oath_Keeper's picture

Doen't Gary Cohn look an awful lot like Harvey Weinstein?

SidSays's picture

She should be nominated anyway and made to insist she is not interested....

Family time.....Personal interests....Health issues....

The bigger the commotion as she departs the better....

Fischer got of easy...

The crash is a mathematical certainty and a statement needs to be made with the coming transition....

Otherwise the plebes couldn't care less...

surf@jm's picture

Well, Yellon can now go openly campaign for democrats......

wide angle tree's picture

A monkey could do that job. Just make a keyboard with a large PRINT button.

Byrond's picture

A monkey should do the job. Trees and fruits would be highly desireable. 

Freedom Lover's picture

I remember before Trump picked his SOS all the pundits were predicting that John Bolton and Mitt Romney were the most likely to get the job. Tillerson wasn't even mentioned. Thank god Trump used common sense and patriotism to pick the right man for the job. I have to believe he will do the same for Fed chairmen. No establishement wall street loving creeps.

Blankfuck's picture

WE THE PEPS OF AMERIKA WELCOME ANY NEW FED RESERVE FED FUCKER TO KEEP THE BANKRUPT NATION ALIVE AND WELL!  YOUR NAME ENGRAVED WITH NEWLY MANY MANUFACTURED PRINTING PRESSES FOR THIS PONZI COUNTRY! PAY THE DEBT WITH MORE DEBT-PERFECT!

Drop-Hammer's picture

Hopefully, neither is a jew.