Trump speaks to Warsh as Fed positions open

Trump speaks to Warsh as Fed positions open

Trump may choose to renominate Chair Janet Yellen when her term ends in February.

It is possible that Trump's four meetings were with Yellen, Cohn, Warsh and Powell, though Trump did not provide names. Much of the latter was accumulated through a controversial bond-buying program that Yellen said helped the economy avert an even deeper downturn.

Warsh, who served on the board from 2006 to 2011, was a key adviser to Fed Chairman Ben Bernanke during the 2008 financial crisis.

Yellen, who became the first woman to lead the Fed in 2014 after she was nominated by then-president Barack Obama and confirmed by the Senate, has said she would finish her term, but left open if she was interested in four more years as chairwoman.

News of Mr Warsh's White House visit, whether an inadvertent leak or a deliberate trial balloon to test market and political reaction, sent bank stocks higher and lifted Treasury yields.

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"We would definitely come out against him if he was the nominee", said Jordan Haedtler, the campaign manager for FedUp, a grassroots group that has has sought more diversity at the central bank. "It does seem he is the front-runner even though it's not a sure thing he will be nominated", Gennadiy Goldberg, interest rates strategist at TD Securities in NY, said of Warsh.

Another report said Trump had also met with Jerome Powell, the only Republican on the Fed board.

There are three vacancies on the Fed board, and there will soon be a fourth.

A Fed spokesman declined to comment on the process while Warsh and Taylor did not respond to requests for comment.

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