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Report: John Taylor interviews for Fed chair role

Stanford University economist John Taylor was interviewed for a possible nomination to be the next chair of the Federal Reserve, The Wall Street Journal reported, citing "a White House official."

Taylor met with President Donald Trump, Vice President Mike Pence and Treasury Secretary Steven Mnuchin on Oct. 11, the report stated. The Taylor rule, a guideline on how and when to adjust monetary policy, bears his name.

Former Fed Governor Kevin Warsh and current Fed Governor Jerome Powell have also met with Trump and Mnuchin about the role, and Trump's advisers have sent him a shortlist including current Fed Chair Janet Yellen and National Economic Council Director Gary Cohn, according to previous media reports. Trump stated at the end of September that he will name a nominee in the coming weeks.