Donald Trump, the US president, has nominated Carnegie Mellon University professor Marvin Goodfriend to become a member of the Federal Reserve Board of Governors. In a statement from the White House explained that if the nomination was approved, Goodfriend would replace the seat left by Sarah Bloom Raskin, who resigned in 2014.
Marvin Goodfriend was a director of research at the Federal Reserve Bank of Richmond and was a member of the parallel Federal Open Market Committee, an independent committee of economists seeking alternative insights on monetary policy.
In testimony before a congressional committee in March, Goodfriend spoke of the Fed's failure to secure credibility on the inflation target, as well as the risks posed by future policy and the economy.