Trump Unlikely to Name Top Two Fed Officials at Same Time, Mnuchin Says
- 7 years ago
Trump Unlikely to Name Top Two Fed Officials at Same Time, Mnuchin Says
ABU DHABI, United Arab Emirates — President Trump, who has several spots to fill at the Federal Reserve, is expected to nominate its next chairman this coming week
but is unlikely to simultaneously tap a vice chairman at the same time, Treasury Secretary Steven Mnuchin said on Saturday, eliminating one potential twist in a selection process being closely watched on Wall Street.
Speaking to reporters aboard a military aircraft during a weeklong Middle East trip, Mr. Mnuchin did not drop any hints as to who Mr. Trump might pick but said
that he had been discussing the Fed decision with Mr. Trump while he was traveling and that the focus was on naming the next chairman.
“I expect whoever is appointed by the president as Fed chair, I would expect to have a very good relationship with.”
Mr. Mnuchin is in the midst of a four-country swing to discuss efforts to combat terrorist financing.
And he said it was too soon to say if Republicans would fully repeal the state
and local tax deduction, which allows homeowners to deduct property and state and local income taxes from their federal tax bill.
The possibility of more sanctions on Iran has been an important topic of discussion with his counterparts in the Middle East, said
Mr. Mnuchin, who criticized the Iranians for violating various United Nations resolutions and creating problems in the region.
Mr. Mnuchin said he had been having daily telephone calls with his Treasury colleagues
and with lawmakers in the House and Senate as they put the finishing touches on a tax bill.
“I do have a good relationship with Yellen,” said Mr. Mnuchin, who was careful not to tip his hand.
ABU DHABI, United Arab Emirates — President Trump, who has several spots to fill at the Federal Reserve, is expected to nominate its next chairman this coming week
but is unlikely to simultaneously tap a vice chairman at the same time, Treasury Secretary Steven Mnuchin said on Saturday, eliminating one potential twist in a selection process being closely watched on Wall Street.
Speaking to reporters aboard a military aircraft during a weeklong Middle East trip, Mr. Mnuchin did not drop any hints as to who Mr. Trump might pick but said
that he had been discussing the Fed decision with Mr. Trump while he was traveling and that the focus was on naming the next chairman.
“I expect whoever is appointed by the president as Fed chair, I would expect to have a very good relationship with.”
Mr. Mnuchin is in the midst of a four-country swing to discuss efforts to combat terrorist financing.
And he said it was too soon to say if Republicans would fully repeal the state
and local tax deduction, which allows homeowners to deduct property and state and local income taxes from their federal tax bill.
The possibility of more sanctions on Iran has been an important topic of discussion with his counterparts in the Middle East, said
Mr. Mnuchin, who criticized the Iranians for violating various United Nations resolutions and creating problems in the region.
Mr. Mnuchin said he had been having daily telephone calls with his Treasury colleagues
and with lawmakers in the House and Senate as they put the finishing touches on a tax bill.
“I do have a good relationship with Yellen,” said Mr. Mnuchin, who was careful not to tip his hand.