UPDATED AT 1:00 PM PT – Mon April 16, 2018
President Trump announces plans to fill two key spots at the Federal Reserve. In a statement released by the White House on Monday, the President is nominating Richard Clarida as Vice Chair and Michelle Bowman for an open Governor’s position.
Clarida is an Economics Professor at Columbia University and Managing Director at the private banking firm PIMCO. If confirmed by the U.S. Senate, Clarida will be the chief deputy to new Fed Chair Jerome Powell.
Bowman is a Kansas Bank Commissioner. Both Bowman and Clarida have been considered for the positions over the past month.
Pres. Trump is also nominating Dan Berkovitz as Commissioner of the Commodity Futures Trading Commission (CFTC). Berkovitz is a lawyer with the firm WilmerHale and has worked as General Counsel for the CFTC as well.