Janet Yellen, chairman of the Federal Reserve
Janet Yellen, chair of the U.S. Federal Reserve, listens during a House Financial Services Committee hearing in Washington, D.C., U.S., on Wednesday, Sept. 28, 2016. Yellen told lawmakers that the U.S. will continue to add jobs at a solid rate, though the recent average pace is probably higher than whats sustainable over the long term and would eventually cause the economy to overheat. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg

Janet Yellen

President Trump has been coy about whether he plans to renominate Fed Chair Janet Yellen, who first became chair in 2014 after serving as vice chair at the agency since 2010. In an interview with The Wall Street Journal in late July, Trump said he "liked her," referring to her as a "low interest-rate person." When pressed about whether she might be reappointed, Trump said, "She's in the running to stay."

Despite the president's words, however, a reappointment is still considered unlikely. For starters, Yellen faces opposition among conservative Republicans, who want to see significant changes at the Fed. Trump has also been critical of Yellen in the past, accusing her of trying to help the Obama administration. It seems unlikely Trump would risk political blowback from his own party by reappointing Yellen.
Gary Cohn, director of the National Economic Council.
Gary Cohn, U.S. President-elect Donald Trump's choice for director of the National Economic Council, arrives in the lobby of Trump Tower in New York, U.S., on Monday, Jan. 8, 2017. A marathon of Senate confirmation hearings starting this week will give Democrats the chance to put Trump's Cabinet nominees on trial even though they have little chance of actually blocking any of them. Photographer: Albin Lohr-Jones/Pool via Bloomberg
Albin Lohr-Jones/Bloomberg

Gary Cohn

National Economic Council head Gary Cohn is widely considered the front-runner to be the next Fed chair. Though Trump may take some heat for nominating a former executive at Goldman Sachs, a firm he criticized on the campaign trail, it's not considered a deal-breaker. Cohn is not an economist, but he has proven adept in his current role and the financial markets have shown confidence in his ability to take the Fed job.

Ironically, Cohn is currently the Trump administration's point person for finding the next Fed chair. But Trump confirmed to The Wall Street Journal in late July that he was considering giving the job to Cohn.
Kevin Warsh, fellow at Stanford's Hoover Institution
Kevin Warsh, former governor of the U.S. Federal Reserve, speaks during the American Economic Association (AEA) annual conference in Chicago, Illinois, U.S., on Friday, Jan. 6, 2017. Warsh said that more reform is needed at U.S. central bank than ever before. Photographer: Daniel Acker/Bloomberg
Daniel Acker/Bloomberg

Kevin Warsh

After Cohn and Yellen, former Fed Gov. Kevin Warsh, now a fellow at Stanford's Hoover Institution, is seen as a strong candidate to become the next Fed chair. In a survey of economists by Bloomberg in late July, Warsh was ranked third most likely to get the job. He is currently an adviser to the administration on economic policy.
John Taylor, professor at Stanford University
John Taylor, professor of economics at Stanford University, speaks during a panel discussion at the Brookings Institution in Washington, D.C., U.S., on Thursday, Oct. 15, 2015. Monetary policy rules like the so-called Taylor Rule could lead officials to make mistakes because they aren't forward-looking and they don't incorporate key forces shaping the economy, said Federal Reserve Bank of New York President William C. Dudley at the event. Photographer: Andrew Harrer/Bloomberg *** Local Caption *** John Taylor
Andrew Harrer/Bloomberg

John Taylor

John Taylor, the top economics professor at Stanford University, is already well known in policy circles for the so-called Taylor Rule, an algorithm that he suggested should be used by the Fed in place of discretionary monetary policy. The rule has been popular with conservatives, who argue the Fed has been too subjective in making decisions on interest rates. Taylor is a former Treasury undersecretary for international affairs in the George W. Bush administration and a former member of the Council of Economic Advisers for President George H.W. Bush.
Federal Reserve Board Gov. Jerome Powell
Jerome Powell, governor of the U.S. Federal Reserve, speaks during a Senate Banking Committee hearing in Washington, D.C., U.S., on Thursday, June 22, 2017. Top U.S. banking regulators are sprinting to ease the Volcker Rule, stress tests and other constraints on Wall Street after the Trump administration issued a long list of proposals last week for rolling back post-crisis financial rules. Photographer: Andrew Harrer/Bloomberg
Andrew Harrer/Bloomberg

Jerome Powell

Fed Gov. Jerome Powell, who is currently the de facto head of bank supervision at the central bank, is a dark horse for the job. Powell is a former visiting fellow at the Bipartisan Policy Center and worked for the Treasury Department in the George H.W. Bush administration.
Glenn Hubbard, dean of Columbia University's Graduate School of Business
Glenn Hubbard, dean of Columbia Graduate School of Business, speaks during a Bloomberg Television interview during the Jackson Hole economic symposium, sponsored by the Federal Reserve Bank of Kansas City, in Moran, Wyoming, U.S., on Friday, Aug. 26, 2016. Hubbard discussed federal policy and the economic plans of the 2016 U.S. presidential candidates. Photographer: David Paul Morris/Bloomberg
David Paul Morris/Bloomberg

Glenn Hubbard

Glenn Hubbard, dean of Columbia University's Graduate School of Business, is also reputedly in the running for the job. Hubbard headed George W. Bush's Council of Economic Advisers between 2001 and 2003, when he helped design the Bush tax cuts.
Jim Rohr, former chairman of PNC Financial Services
James E. Rohr, Chairman & CEO, PNC Financial Services Group addresses the Detroit Economic Club meeting at the Westin Book Cadillac in Detroit, Mich., Michigan on Wednesday, Oct. 27,2009. Photographer: Jeff Kowalsky/Bloomberg News.
JEFF KOWALSKY

Jim Rohr

Jim Rohr, former chairman and CEO of PNC Financial Services Group, is considered a long-shot candidate for the top Fed job. He left the bank in 2014, becoming chairman of Carnegie Mellon University's board of trustees.
davis-richard-us-bancorp

Richard Davis

U.S. Bancorp Executive Chairman Richard Davis stepped down from his role as CEO of the bank in April, and has been touted by Politico and other media outlets as a possible successor to Yellen.
Dimon 2017
James Dimon, chief executive officer of JPMorgan Chase & Co., pauses during a Bloomberg Television interview at the World Economic Forum (WEF) in Davos, Switzerland, on Wednesday, Jan. 18, 2017. World leaders, influential executives, bankers and policy makers attend the 47th annual meeting of the World Economic Forum in Davos from Jan. 17 - 20. Photographer: Simon Dawson/Bloomberg
Simon Dawson/Bloomberg

Jamie Dimon

JPMorgan Chase Chief Executive Jamie Dimon's name is regularly floated for top economic jobs whenever they are vacant, and some see him as a natural fit for a Trump administration given his outspoken style and business acumen. Yet Dimon's name has not been on the shortlist recently for the Fed job, and other candidates are considered more likely to get the nod.
MORE FROM AMERICAN BANKER