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Janet Yellen was appointed as Federal Reserve Chair by President Obama in 2014. Her 4 year term is up on February 1, 2018. Past presidents have traditionally asked the existing Fed Chairs to serve at least one more term, and many prominent news sources (Wall Street Journal, New York Times, USA Today, CNN Money, amongst others) are asking Trump to reappoint Yellen to another term. She is highly qualified in her position and gets good reviews from economists across the nation.
However, she has one black mark against her. She was appointed by President Obama, and Trump is determined to erase Obama's legacy in every way possible.
And there is something else. Trump wants control and he cannot control what Yellen says or does. She will be replaced by a Trump friendly person. However, Trump's recent comment on the issue to Fox News has raised eyebrows whether he really understands what the Fed Chair responsibilities are:
"Take the Fed out," [Trump said]. "That's a very important position. It's also important psychotically. If the right person is there a lot of good things can happen. I think I'm doing a good job for businesses that way. People are coming into the country; you saw what happened with Foxconn going to Wisconsin."