• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates

2

'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money

3

Trump stunned as stocks fall on great jobs report. Barclays explains why ‘we are entering the warning zone'

1

Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates

2

'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money

3

Trump stunned as stocks fall on great jobs report. Barclays explains why ‘we are entering the warning zone'
Finance

Janet Yellen Says Donald Trump Can’t Chase Her From the Federal Reserve

By
Chris Matthews
Chris Matthews
Down Arrow Button Icon
By
Chris Matthews
Chris Matthews
Down Arrow Button Icon
November 17, 2016, 10:57 AM ET
Federal Reserve Chair Janet Yellen Testifies To House Finance Committee On State Of Economy
Mark Wilson—Getty Images

Donald Trump will have to put up with Janet Yellen, for now.

During testimony before the Joint Economic Committee on Capitol Hill Thursday, the Chair of the Federal Reserve said that she’s staying put. “I was confirmed by the Senate for a four-year term which ends in January of 2018,” Yellen said. “And it’s fully my intention to serve out that term.”

Many market analysts speculated that the election of Donald Trump would lead to Yellen’s resignation, given how the two figures clashed during the campaign. Donald Trump said that the Federal Reserve had been politicized and that Yellen—appointed Fed Chair by Barack Obama—was managing Fed policy with the goal of helping the Hillary Clinton campaign, rather than doing what was best for the U.S. economy.

But just because Donald Trump doesn’t have the authority to remove Yellen before her term as Fed Chair runs out in 2018, that doesn’t mean he won’t have broad powers to remake the central bank. There are two vacancies on the FOMC board, and the position of vice chair of supervision—which leads the Fed’s effort on bank regulation—also remains vacant. If Donald Trump were to appoint FOMC members who are more inclined towards raising interest rates more quickly, as many Republicans want, that could create trouble for Yellen as she tries to strike a more cautious pose while maintaining consensus at the FOMC.

About the Author
By Chris Matthews
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

AXA launches a new insurance and wealth platform for HNWIs as Hong Kong wealth surges past Switzerland
AsiaAXA
AXA launches a new insurance and wealth platform for HNWIs as Hong Kong wealth surges past Switzerland
By Nicholas GordonJune 8, 2026
2 hours ago
Child struggling with schoolwork
EconomyEducation
70% of fourth-graders aren’t reading proficiently, report finds—one of several areas where education is failing America’s kids
By Tristan BoveJune 8, 2026
3 hours ago
The global airline industry’s profits could be cut in half as it braces for its worst year since the pandemic
EnergyAirline industry
The global airline industry’s profits could be cut in half as it braces for its worst year since the pandemic
By Marco Quiroz-GutierrezJune 8, 2026
4 hours ago
A trader works on the floor of the American Stock Exchange (AMEX) at the New York Stock Exchange (NYSE) in New York, US, on Friday, June 5, 2026.
InvestingWall Street
The AI trade’s worst day in a year became a buying opportunity by Monday
By Eva RoytburgJune 8, 2026
6 hours ago
Young people working in an office.
EconomyGen Z
Gen Z might be the flakiest generation when it comes to career and life decisions. They might also be the most intentional
By Tristan BoveJune 8, 2026
6 hours ago
How retail investors can participate in the SpaceX IPO
InvestingSpaceX
How retail investors can participate in the SpaceX IPO
By Jason MaJune 8, 2026
7 hours ago

Most Popular

Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates
Success
Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates
By Preston ForeJune 7, 2026
1 day ago
'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money
Economy
'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money
By Nick LichtenbergJune 7, 2026
1 day ago
Trump stunned as stocks fall on great jobs report. Barclays explains why ‘we are entering the warning zone'
Big Tech
Trump stunned as stocks fall on great jobs report. Barclays explains why ‘we are entering the warning zone'
By Eva RoytburgJune 7, 2026
1 day ago
'We didn’t see this coming': Wall Street eats its forecasts as stocks sell off globally on fear of AI bubble ahead of SpaceX IPO
Economy
'We didn’t see this coming': Wall Street eats its forecasts as stocks sell off globally on fear of AI bubble ahead of SpaceX IPO
By Jim EdwardsJune 8, 2026
13 hours ago
SpaceX's IPO will also be a massive selling event triggering big price dislocations across the stock market as investors dump shares to buy SPCX
Investing
SpaceX's IPO will also be a massive selling event triggering big price dislocations across the stock market as investors dump shares to buy SPCX
By Jason MaJune 7, 2026
1 day ago
AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons
AI
AI CEOs from OpenAI, Anthropic, and Microsoft set aside their rivalry to warn Congress AI is making it too easy to design and create bioweapons
By Marco Quiroz-GutierrezJune 5, 2026
4 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.