Trump as president and Yellen at the Fed

POLICYMAKERS and financial practitioners are wondering what might happen to Janet Yellen as Federal Reserve chair should Donald Trump, the Republican nominee, become US president after the November election.

Ms Yellen's four-year term as chair ends in February 2018 and Mr Trump has said in recent months he would "most likely" replace her because she is "not a Republican".

I would like to put people's minds at rest. If Mr Trump wins - and I am more open to this prospect than many other international observers, since I believe he would bring a welcome touch of unorthodoxy into US and international economics - this need not be the end of the line for Ms Yellen.