US President Donald Trump makes nominations for two vacant seats on the Federal Reserve

US President Donald Trump has nominated a former Treasury official and a Kansas banking regulator to fill two vacant seats on the Federal Reserve Board.

If confirmed by the Senate, the picks allow Trump to further mold the central bank leadership to his liking.

The Fed board currently has only three serving members, two of whom are Trump appointees, allowing him the unprecedented opportunity to select all but one of the board’s seven members.

Trump tapped Richard Clarida for a four-year term as Fed vice chairman, filling a seat vacated in October by former Vice Chair Stanley Fischer. Trump also nominated Kansas State Banking Commissioner Michelle Bowman to a seat on the board.

Bowman is the first woman ever to serve as Kansas banking commissioner, which oversees locally chartered banks and non-depository lenders.



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