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Former Dallas Fed CEO: Why would Yellen want to stay?

  • A former Dallas Federal Reserve CEO said Janet Yellen should not want to be appointed to a second term leading the Federal Reserve.
  • "If I could wear her flats, I would be saying to myself, 'Do I want to stay?'" Richard Fisher said Thursday.
  • Fisher's remarks come as Trump is struggling with members of his own party over the crucial appointment.

With President Donald Trump reportedly changing his mind "every day" about who he will appoint to chair the Federal Reserve, many are doubting whether Federal Reserve Chairwoman Janet Yellen is likely to stay on for a second term.

One former Dallas Federal Reserve CEO said she should not even want the appointment.

"If I could wear her flats, I would be saying to myself, 'Do I want to stay?'" Richard Fisher said Thursday. Fisher was president and CEO of the Federal Reserve Bank of Dallas from 2005 to 2015.

"There's no upside for Janet to stay," he said. "She can go anywhere she wants. She can be chancellor of any university, be a professor anywhere, be on any boards," he said.

Fisher said that in his mind, Yellen has done a good job steering the central bank. But as Fed Governor Jerome "Jay" Powell and Stanford economist John Taylor seem to be closing in on the job, Fisher said there's little in it for Yellen.

Fisher was speaking on CNBC's Power Lunch.

Fisher's remarks come as Trump is struggling with members of his own party over the crucial appointment. Three House Republicans have called on the president not to reappoint Yellen when her term expires in February. It's unclear when Trump will announce his decision, though he has previously indicated it could beas soon as Nov. 3.

Trump has reportedly met with Yellen multiple times to interview her for the position.

"I also met with Janet Yellen, who I like a lot, I really like her a lot," he's said.

Fisher also commented on which Fed chair he thought would be best for the stock market. The appointment of Taylor or Powell would be equally likely to juice stock returns, he said.