November 17, 2015 / 1:35 AM / 5 years ago

U.S. Republican Rubio says, as president, would not renominate Fed Chair Yellen

U.S. Republican presidential candidate Marco Rubio discusses "The Next Agenda for the American Presidency" at the Wall Street Journal CEO Council 2015 annual meeting in Washington November 16, 2015. REUTERS/Yuri Gripas - RTS7GGW

WASHINGTON (Reuters) - U.S. Republican presidential candidate Marco Rubio said on Monday he would not renominate Federal Reserve Chair Janet Yellen if he were president and the opportunity arose, saying the United States has become “Fed-obsessed.”

“The Fed is no substitute for tax policies, regulatory policies, fiscal economic policies that create an environment that’s conducive to economic growth,” Rubio, a U.S. senator from Florida, said at a conference in Washington.

“In fact the Fed oftentimes, by trying to compensate for bad fiscal policy, ends up making policies that dramatically alter the economy in very negative ways,” he said.

Reporting by Emily Stephenson and Erin McPike; Editing by Eric Beech

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