President Donald Trump has the opportunity to recast the Federal Reserve by appointing three or more candidates to vacant positions on the central bank’s board of governors.
The board is made up of seven members and, so far, Trump seems to be more interested in candidates from the banking world than those from academia, the Wall Street Journal reports. The board of governors has two vacancies, but another spot will open when Daniel Tarullo resigns in April.
While the president has not been consistent on monetary policy — he both praised and attacked the Fed during his campaign — so far General Electric exec David Nason has emerged as a favorite for the vice chairman for supervision position, although other people are in consideration.
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