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Treasury Secretary Janet Yellen will reportedly back Jerome Powell for another term as Fed Chair

U.S. Federal Reserve Chair Janet Yellen (L) congratulates Fed Governor Jerome Powell at his swearing-in ceremony for a new term on the Fed's board, in Washington in this handout photo taken and released June 16, 2014. REUTERS/U.S. Federal Reserve/Handout via Reuters

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Treasury Secretary and former Chair of the Federal Reserve Janet Yellen will support another term for her successor Jerome Powell as head of the US central bank, according to a report from Bloomberg on Saturday.

Yellen made such comments to senior White House advisors, Bloomberg reported, citing people familiar with the matter.

Powell’s four-year term as Fed chair will end in early 2022. President Joe Biden, who has the responsibility of appointing the chair of the Fed, will reportedly make a decision on the matter in coming days. 

Yellen, who was appointed chair of the details ⇒

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