Yellen to leave Federal Reserve once new chair takes over
Federal Reserve Chair Janet Yellen during an awards ceremony earlier this month. Photo: Jacquelyn Martin / AP
The Federal Reserve announced Monday that Janet Yellen will leave after her successor, Trump-nominated Jerome Powell, takes over. Her four-year term as chairwoman comes to an end on February 3, 2018, but she could have remained on the board until 2024.
Why it matters: Trump will now get to fill four seats on the seven-member Federal Reserve Board of Governors