President Donald Trump met with Stanford University economist John Taylor in the search for a new chairman of the Federal Reserve, a White House official said Thursday, according to media reports. Taylor is best known for the eponymous rule he developed to help the Fed make interest-rate decisions. Taylor has been critical of the central bank’s response to the financial crisis. House Republicans hold Taylor in high regard. They have pushed legislation that would require the Fed to follow the “Taylor rule” or a similar interest-rate formula.
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