Randal Quarles and Marvin Goodfriend have been picked to be the nominees for two of the three open slots at the Federal Reserve, The New York Times reported, citing people with direct knowledge of the decision. The report said it's unclear when the White House would nominate them. Quarles, a former Treasury Department official, . Goodfriend is a professor at the Carnegie Mellon Tepper School of Business and a former Richmond Fed official. Both Quarles and Goodfriend have expressed support for the idea that the Fed should have a more formulaic way to set interest rates. Goodfriend also has been a critic of the Fed's bond purchases.
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(END) Dow Jones Newswires
June 02, 2017 16:33 ET (20:33 GMT)