Politics

Trump's Treasury and Commerce picks tepid on Fed's Janet Yellen

Share
VIDEO0:4300:43
Mnuchin: Interest rates to stay relatively low for a few years

President-elect Donald Trump's picks for Treasury and Commerce secretaries were lukewarm on Federal Reserve Chair Janet Yellen.

Appearing together on CNBC on Wednesday as Trump's choices were being announced, Steven Mnuchin and Wilbur Ross gave Yellen tepid reviews.

Treasury pick and Wall Street veteran Mnuchin said Yellen has done a "good job."

Commerce secretary pick Ross, the billionaire who invests in distressed assets, was even more reserved, saying Yellen has done a "reasonably good job" under tough circumstances.

Ross refused to comment on whether Yellen should finish out her term, saying that's up to Trump.

Trump was highly critical of Yellen during the campaign, saying she's been politically motivated in maintaining low interest rates to keep the economy growing in order to protect President Barack Obama's legacy.