Rubio: I'd Dump Fed Chair Yellen

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.