(From Fox News)
As Federal Reserve Chair Janet Yellen meets with President Donald Trump Thursday to determine if she will remain at the helm of the central bank, Fed candidate and Stanford economist John Taylor is garnering fresh attention as he’s become a preference for conservative lawmakers on Capitol Hill and some White House officials.Taylor met with Trump last Wednesday and he’s become a favorite of Vice President Mike Pence because he believes Taylor represents “sound monetary policy,” according to sources familiar with the matter.
When Pence represented Indiana in the House of Representatives, he tried to rein in the powers of the Fed through a bill that required it to focus only on achieving low inflation and to cut back on the so called dual mandate, which centers on stabilizing prices and maximizing U.S. employment.
A spokeswoman for Pence declined to comment on who the vice president prefers for the job but did say he “has been heavily involved in the process for picking the Fed chair. He and the president will be on the same page when the decision is made.”