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Trump 'very, very close' to picking Fed chair

Trump 'very, very close' to picking Fed chair
© Getty Images
 
Trump responded to a question from a reporter during a meeting with Singapore Prime Minister Lee Hsien Loong in the Oval Office. He did not elaborate on his timeline or discuss whom he will pick to lead the central bank. 
 
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The president said in a recent interview with the Fox Business Network he is considering Federal Reserve Governor Jerome Powell, Stanford University economist John Taylor and Janet Yellen, the current Fed chair. 
 
Yellen’s term expires in February. 
 
The decision will be one of the biggest ways yet Trump could shape the direction of the U.S. economy. 
 
The president has previously said he plans to announce his decision before he leaves for a 12-day trip to Asia on Nov. 3