11,503. 11/14/2017

FEDERAL RESERVE/NOMINATIONS/TRUMP AS PRESIDENT: “The White House is considering economist Mohamed El-Erian as one of several candidates to serve as the Federal Reserve’s vice chairman, according to a person familiar with the matter.
The process of selecting the central bank’s No. 2 official began this month after President Donald Trump nominated Fed governor Jerome Powell to succeed Fed Chairwoman Janet Yellen when her term expires next February, and the search was described by people familiar with the process as still in its early stages.
Mr. El-Erian, the former chief executive of Pacific Investment Management Co. and a former deputy director of the International Monetary Fund, is one of several candidates under consideration for the vice chair position, and no decisions have been made, according to the person familiar with the matter.
The White House has placed a heavy focus on selecting a vice chair with a strong background in monetary policy, this person said…
A White House spokeswoman declined to comment, and Mr. El-Erian didn’t immediately respond to a request for comment.”

-Nick Tiriraos and Kate Davidson, “White House Considers Former Pimco CEO Mohamed El-Erian for Fed Vice Chairman Post,” The Wall Street Journal online, Nov. 14, 2017 02:25pm

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