Mnuchin Says White House Is “Focused On Finding A Successor To Yellen”

President Donald Trump is a showman whose love for spectacle has transformed even mundane personnel decisions into elaborate pageants – as the New York Times pointed out last night.
And of all the turmoil in the administration’s process of hiring, and firing, employees, nothing has quite underscored this fact more clearly than Trump’s quest to select Fed Chairwoman Janet Yellen’s successor before he term ends in February.
In the race to rack up the largest number of ‘scoops’ during the meandering ‘will-he-or-won’t he’ process, which has created a seemingly endless stream of stories about whom Trump might be leaning toward that day. In recent weeks, Politico and Bloomberg – or rather, their sources – have begun including a telling caveat: Until the final decision has been made, everything we’ve reported is subject to change.
Which brings us to the latest news. Reuters and CBS both reported late this week that Trump has ruled out asking Yellen to stay on for another term. Despite ‘collaborating’ to push stocks to record highs, Yellen is a vestige of the Obama-era – and that alone probably sealed her fate, despite reportedly meeting with both Trump and his daughter Ivanka.

This post was published at Zero Hedge on Oct 28, 2017.