President Donald Trump said he has held four meetings to discuss who should lead the Federal Reserve starting early next year and expects to decide within two or three weeks. Trump also reportedly spoke to current Federal Reserve governor Powell.
Both Yellen and Warsh became frontrunners for the post on speculation that the President's chief economic adviser and former second-in-command at Goldman Sachs Gary Cohn had fallen out of favor after criticizing Trump's reaction to events surrounding a white supremacist rally in Charlottesville. The Wall Street Journal reported Friday that Trump and Mnuchin have also met with Powell.
Mr Warsh is married to Jane Lauder, daughter of Mr Trump's friend Mr Ronald Lauder and a global brand president at the cosmetic company founded by her grandmother, Estee Lauder.
Warsh served as a Fed governor from 2006 to 2011 and now serves as the distinguished visiting fellow in economics at Stanford University's Hoover Institution. But he's softened his stance since, saying he respects Yellen while professing a commitment to keeping the USA dollar and interest rates low.
In an interview this summer, Trump mentioned Cohn as another candidate for the Fed job. Her term expires in February.
Others previously identified by administration officials as potential contenders for Fed chair include Stanford economist John Taylor, former BB&T Corp CEO John Allison and Columbia University economist Glenn Hubbard.
In September Trump said he "likes" incumbent Fed chair Yellen, hinting she may stay on.
There are 3 vacancies on the Fed board, and there will soon be a 4th. His nomination is pending before the Senate.