The possible Federal Reserve governor selections come from a range of backgrounds and levels of experience. (Reuters, AP)
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Here's a look at the candidates U.S. President Donald Trump is considering over the next few weeks to nominate as chairman of the Federal Reserve and where they stand on monetary policy. Trump has met with Fed Chair Janet Yellen, National Economic Council Director Gary Cohn, Fed Board Governor Jerome Powell and former Governor Kevin Warsh as he considers his choice to head the U.S. central bank, three people familiar with the discussions said last week. Trump has said he expects to make a decision on the Fed-chair search this month. Last month, Yellen said it's uncertain exactly why inflation has been running below the Fed's 2 percent target – which it has mostly missed for the past five years.Hawk or Dove? From the little we know, Cohn would likely be at least as dovish as Yellen. The Fed governor was rated as neutral on monetary policy by the Bloomberg Intelligence Fed Spectrometer.He has said Fed regulation "now micromanages big banks and effectively caps their rate of return".Pros: His regulatory views fit closely to Trump's so he would be more likely to overhaul rules as opposed to fine-tuning them. Taylor created a widely cited rule for setting interest rates that's named after him.
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