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Janet Yellen will leave the board of governors of the Federal Reserve in February 2018

The president of the Federal Reserve (Fed) of the United States, Janet Yellen, will leave his post on the board of governors of the agency in February 2018, when the office has been sworn in by his successor Jerome Powell, who is part of the US central bank since 2012, announced the institution today.

Washington, Nov. 20 (EFE) .- The president of the Federal Reserve (Fed) US, Janet Yellen, will leave his position on the Board of Governors in February 2018, when there The office was sworn in by his successor Jerome Powell, who has been a member of the US central bank since 2012, the institution announced today.

Yellen's term as president of the Fed concludes in February 2018, but technically he could continue on the board of governors until January 31, 2024.

The US central bank announced today Yellen's decision, that the The president herself sent a brief five-paragraph letter to US President Donald Trump.

"I am writing to inform you that I plan to resign as a board member. governors of the Federal Reserve system, which will be effective once the office swears by my successor as president, "Yellen announced in his letter, in which he considers" a privilege and an honor " have worked for the Fed for three decades.

President of the Fed since 2014, Yellen held the Vice Presidency of the Board of Governors between October 2010 and 2014, and worked as president of the Reserve Bank in San Francisco, with jurisdiction in a wide range of states, including Oregon, California, Arizona and Alaska.

She was appointed to the board of Fed governors in August 1994 by then President Bill Clinton (1993-2001) and, subsequently, worked directly for him as an adviser to the White House.

At the beginning of this month, Trump formally nominated Powell to head the Fed and, although it must be ratified by the Senate, no obstacles are expected in his confirmation.

Analysts see in Powell, 64 years old and current member of the board of governors of the agency, a continuing figure of Yellen's policy, on the path of gradual monetary adjustment and withdrawal of the multimillion dollar stimulus applied after the financial crisis of 2008-10.

In his five years on the board of governors of the Fed, the now aspiring president of the central bank voted always in favor of the majority decisions.

The next monetary policy meeting of the central bank will be held in mid-December and it is expected that, in it, a decision will be new rise in interest rates, now between 1% and 1.25%, reflecting the strength of the US economy.

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