Trump's short list for Fed chair

President Trump is expected to name his pick to be chairman of the Federal Reserve before leaving on an Asia trip Nov. 3, Bloomberg reports. Here are the candidates:

1. Current chair Janet Yellen
2. Fed board member Jerome Powell
3. National Economic Council Director Gary Cohn
4. Former Fed member Kevin Warsh
5. Stanford University economist John Taylor

Why it matters: "At issue for the next Fed chair, if Yellen isn't renominated, is ensuring the long expansion doesn't give way to a recession," Bloomberg writes.