Yellen: I'm Not Going to Resign

Posted: Nov 17, 2016 12:00 PM

Federal Reserve Chairwoman Janet Yellen told lawmakers on Thursday that she has no plans to resign in the face of a Trump administration.

Yellen’s four-year term ends in January 2018 and she told the Joint Economic Committee that it is “fully [her] intention to serve out that term.”

Despite accusing Yellen during the first presidential debate of using Fed policy to help President Obama politically, an economic adviser to Trump said he’s not looking for her to step down.

“He’s not urging her to resign at all,” Judy Shelton, an economist and senior fellow at the Atlas Network, told The Wall Street Journal.

Even with Yellen serving as chairwoman for the first year of his term, Trump will still be able to exercise some influence over the Fed as there are currently two spots open on the Federal Reserve Board as well as the role of vice chair of supervision.