washington president donald trump consider nominate federal reserve governor jerome powell stanford university economist john taylor central bank top two job apparent bid reassure market appease conservatives hungry change scenario either powell taylor would take rein feed chair janet yellen term expire early february would fill vice chair position leave vacant stanley fischer retire month something consideration rule number options announcement soon come days white house spokeswoman sarah sanders tell reporters friday make powell soft-spoken centrist support yellen gradual approach raise interest rat next feed chief would provide continuity monetary policy investors crave addition taylor back overhaul feed embrace rigid rule-oriented monetary policy would feather cap conservative republicans feel monetary policy loose yellen name feed chair democratic president barack obama lead central bank since february 2014 think powell might safe pick insofar know get say michael feroli chief u.s. economist j.p. morgan chase guy obviously know feed culture policy-setting committee operate soft skills know would effective powell embrace yellen feed monetary policy keep faith tight job market eventually push wag high end lengthy period worryingly low inflation taylor spend last two decades refine advocate wide use rule lay interest rat ought give certain condition inflation broad economy rule imply rat high yellen speak economic conference washington friday even mount strong defense tool feed use fight sharp economic downturn trigger financial crisis say risk another crisis unconventional policies may need yellen trump indicate could still name another term feed chair ask feed job offer comment selection process although taylor highly regard within feed rule-based rate-setting position spur criticism would handcuff u.s. monetary policy taylor push back meet boston feed saturday say favor flexible implementation policy rule want tie feed hand suggest motivate distrust policymakers think completely incorrect say trust policymakers rule effort make policy good analysts suggest fear taylor would bring inflexible monetary policy feed republicans congress hope likely exaggerate scope disappointment people think put taylor lead mechanical-based policy feroli say cleveland feed president loretta speak reporters friday seem agree even pick rule rule would need modify give structure economy say think systematic look kinds information look systematically time articulate strategy policy less discretionary good idea time concern combination powell taylor atop world powerful central bank could send confuse signal market unclear whether trump criticize yellen stewardship also say several occasion prefer rat stay low want dramatically alter feed direction although appear tilt powell taylor addition yellen republican president interview top economic adviser gary cohn former feed governor kevin warsh feed chief position trump consider feed 's powell economist taylor lead central bank