FEDERAL RESERVE/NOMINATIONS/TRUMP AS PRESIDENT: “President Donald Trump nominated Marvin Goodfriend, a former Federal Reserve economist and current Carnegie Mellon University professor, for a spot on the central bank’s board of governors on Wednesday.
If confirmed by the Senate, Mr. Goodfriend would fill one of three vacancies on the Fed’s powerful seven-member board…
Mr. Goodfriend, a widely respected monetary economist, would provide academic heft on a board that now has just two economists, including Ms. Yellen. He has criticized the Fed’s buying of mortgage-backed securities as part of its postcrisis asset purchases aimed at lowering long-term interest rates. He has said the Fed should limit its bond-buying to Treasury securities except in limited circumstances when it has been given explicit permission by Congress.”
-Nick Timiraos, “Trump Nominates Marvin Goodfriend for Federal Reserve Board Seat,” The Wall Street Journal online, Nov. 29, 2017 11:40pm