Bernie: Not in a hurry to choose Powell's successor

BlockBeats News, July 23rd, U.S. Treasury Secretary Yellen stated that the current administration is "not in a rush" to determine the successor to Fed Chair Powell, and the candidate may come from current Board members or regional bank presidents. Yellen said on a TV show on Wednesday: "There are many strong candidates, including several key Board members and possibly regional bank presidents." She did not disclose specific names.

Reports have indicated that Yellen herself, White House National Economic Council Director Hassett, former Fed Governor Kevin Warsh, and current Fed Governor Wall are among the candidates nominated by Trump for the chairmanship. Yellen said: "There is a very long, very long list." She stated: "I am not going to discuss this process, but we are moving forward with this process, obviously, it will be President Trump's decision, and we are not in a hurry." (FXStreet)