Trump says he would likely replace Yellen as Fed chair

Donald Trump says he has nothing against Janet Yellen but would likely replace her as Fed chair once her term is up.

In an interview with CNBC, the likely Republican presidential nominee says he thinks it would be appropriate for him to nominate someone else to lead the Fed since Yellen is not a Republican. President Barack Obama selected Yellen to succeed Republican Ben Bernanke. Her four-year term as Fed leader ends on Feb. 3, 2018.

Trump says he has “absolutely nothing against” Yellen, calling her a “very capable person.” While Yellen’s term as chair ends in 2018, she could remain as a governor on the Fed’s seven-member board. Her 14-year term as a Fed board member does not end until Jan. 31, 2024.

— AP