Treasury’s Yellen: Fed Chief Pick ‘Up to the President’

Federal Reserve Chairman Jerome Powell testifies during a Senate Banking, Housing and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington, DC, U.S. on Sept. 28, 2021. Kevin Dietsch/Pool via Reuters

U.S. Treasury Secretary Janet Yellen on Tuesday declined to say whether she would support a reappointment of Federal Reserve Chair Jerome Powell for a second term, saying it was up to President Joe Biden to decide.

In an interview with CNBC, Yellen also said she trusts the U.S. central bank to make the right decisions in guiding the economy’s recovery from the recession caused by the coronavirus pandemic.