Janet Yellen isn’t the only prominent central bank governor who may not keep her job

Janet Yellen isn’t the only prominent central bank governor who may not keep their job, as the Bank of Japan and the People’s Bank of China may all have new bosses in early 2018. The European Central Bank will also see its governor replaced the following year, according to Reuters. This quartet of central bank governors led the wave of global reform policies on the back of the global financial crisis, with the Fed, ECB and BoJ buying up some USD 10 tn in assets to prop up their economies. Their departure comes as their reforms remain unfinished and the rise of nationalism threatens to weaken central bank controls on the financial system. In the case of the Fed, US President Donald Trump is weighing between continuity of reforms or deregulation as he debates between keeping Yellen or replacing her with opponents of her policies such as Stanford academics John Taylor and Kevin Warsh, according to the FT (paywall).