Republican Presidential nominee Donald Trump is looking to shake up the US' economy on coming into power. Trump said that he will likely replace Fed Chief Janet Yellen when her term ends in February 2018. However, he said that he agrees with Yellen's policy to keep the interest rate low.

Trump's economic policies are as radical as his political strategies. In an interview with CNBC, he said, "She is not a Republican. When her time is up, I would most likely replace her because of the fact that I think it would be appropriate." However, he termed Yellen as "very capable."

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Trump stated that while he favors a strong dollar, he also understands that it is not necessarily good for the United States. He also backed the Fed's easy monetary policy. This stance is starkly different from his position last year, when he accused Yellen of keeping the interest rate low to help the Obama administration. His current position is that a high interest rate would make it difficult for the US to service its debt.

The interest rate hovered around zero for about seven years, before Yellen decided to boost it by a quarter point in December. In 2016, only one or two upward revisions are expected as a high interest rate may make the dollar stronger, negatively impacting exports. The Fed targets two percent as its target in long term.

Presidents do not necessarily act partisan while choosing Fed chief. Alan Greenspan and Ben Bernanke, both Republicans, served under Democrat leaders Bill Clinton and Obama respectively. Yellen is also on the Fed's seven-member board. Her tenure ends in 2024.

TagsJanel Yellen, donald trump, Barrack Obama, Ben Bernanke, Alan Greenspan