Yellen lunches with Cohn at White House amid Fed chair rumors

Federal Reserve Board Chairwoman Janet Yellen on Friday made her second trip in as many days to the White House as President Trump mulls who — if anyone — should replace her in 2018.

Yellen visited the White House on Friday to have lunch with National Economic Council Director Gary Cohn, according to a White House spokesperson.

The White House said Yellen and Cohn lunch together “semi-regularly,” and that Friday’s meeting was “nothing out of the ordinary,” despite rumors Trump is considering Cohn to replace Yellen as head of the Fed.

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Yellen and Cohn have had a standing meeting over breakfast or lunch each month, according to Yellen’s public calendars from February through August. Each time, they ate in the White House Mess, a cafeteria in the White House.

Yellen met with Trump on Thursday to discuss her tenure leading the Fed, which started in 2014. Yellen’s term as chairwoman ends in February and Trump is expected to announce within weeks whether he’ll try to retain Yellen or nominate a replacement.

Presidents have traditionally renominated the Fed chairman they inherit when taking office, regardless of party affiliation. While Trump routinely criticized Yellen’s insistence on slow interest rate increases under President Obama, he’s since praised her moderate monetary policy.

Trump is also reportedly considering Cohn, current Fed Governor Jerome Powell, former Fed Governor Kevin Warsh and Stanford University economist John Taylor to replace Yellen.

Cohn’s views on monetary policy are less defined than his rivals, but he benefits from a constant presence beside Trump. Powell, a Republican, would likely continue much of the Fed’s current policy, while Warsh and Taylor would likely pursue more aggressive rate hikes.

Updated at 1:39 p.m.