Trump Didn’t Reappoint Fed Chairwoman Because He Thought She Was Too Short
President Donald Trump, known for his preoccupation with officials who look “straight out of central casting”, reportedly thought former Federal Reserve Chairwoman Janet Yellen too short to keep on as the Fed’s leader, The Washington Post reported.
Trump reportedly asked aides whether they thought Yellen, a former economics professor who earned her doctorate at Yale University, was tall enough at 5 foot 3 inches to be reappointed, sources said to The Post.
Despite an impressive interview with Yellen, according to the sources, Trump ultimately sided with advisers who suggested he choose another candidate. Trump appointed Jerome Powell, a former member of the Fed's board of governors, to lead the Fed in November 2017.
That decision appears to have disappointed Trump, however, as Powell continues Yellen’s interest rate hikes — a move the president has disparaged.
Trump has blamed the stock market's volatility and recent layoffs at General Motors on the rate hikes, which he described as "a mistake" and "crazy."
"They're making a mistake because I have a gut, and my gut tells me more sometimes than anybody else's brain can ever tell me," Trump said in an interview with The Post.
"So far, I'm not even a little bit happy with my selection of [Powell]. Not even a little bit," Trump added. "And I'm not blaming anybody, but I'm just telling you I think that the Fed is way off-base with what they're doing."