President Trump is slated to pick a former top U.S. Treasury official to serve as the Federal Reserve’s vice chairman of supervision, Politico reported.
Randal Quarles, who served as the Department of Treasury’s undersecretary for domestic finance during former President George W. Bush’s administration, is reportedly Trump’s choice for the role.
{mosads}The position had been created by the Dodd-Frank financial reform law but was not filled during the Obama administration.
Quarles is currently a managing director at The Cynosure Group. He reportedly has yet to meet with Trump, which he is expected to do in the next few days.