U.S. Treasury Secretary Janet Yellen said President Joe Biden should pick an “experienced and credible” person as Federal Reserve chair to reassure markets, and while current chair Jerome Powell fit the bill, others would too. Powell, a Republican placed in the job by former U.S. President Donald Trump, is widely favored to win reappointment to another term, and some economists and investors have fretted that financial markets could see turbulence if Biden picks another candidate. Yellen, who has not publicly endorsed a candidate, said she gave her advice to the president and it was his decision to make. She declined to say if she supported Powell, as some media have reported. Asked if market concerns should factor into Biden’s decision, Yellen said Biden should pick someone seen as a credible and capable policymaker. “I think Powell has acquired that reputation, but there are other candidates too, who I think would be similarly perceived,” she said. “If the markets are upset because they think the person isn’t credible, then that’s a person who shouldn’t be appointed. The president should appoint someone who is experienced and credible.” Yellen was the first woman to head the U.S. central bank, nominated by former President Barack Obama, and is now the country’s first female Treasury Secretary. Powell’s odds in betting markets have declined from early September following sharp criticism of his performance by progressive Democrats and a securities trading scandal involving Fed officials. Still, on the online political wagering site PredictIt.org, Powell remained the odds-on favorite at 70 percent. As an alternate, many progressives favor Fed Governor Lael Brainard, who served as a senior Treasury official in the Obama administration and was nominated by him to the Fed board in 2014. Brainard is seen as somewhat more dovish than Powell in part because of her push to retain super-easy monetary policy until there is more progress on a recovery in employment following the downturn from COVID-19. (SD-Agencies) | 