Marvin Goodfriend, an economics professor, was nominated Wednesday to the Federal Reserve by President Donald Trump to serve through January 2030, the White House said in a news release.
Mr. Goodfriend is the Friends of Allan Meltzer Professor of Economics at Carnegie Mellon University's Tepper School of Business. He served as director of research at the Federal Reserve Bank of Richmond from 1993 until 2005.
Mr. Goodfriend is a former visiting economist at the Federal Reserve Board and was a senior staff economist for President Ronald Reagan's Council of Economic Advisers. He has also advised several European central banks and is an honorary adviser at the Bank of Japan.
He is currently a member of the Fed's Shadow Open Market Committee and a research associate of the National Bureau of Economic Research.
Mr. Goodfriend's appointment requires Senate confirmation. The Federal Reserve board of governors still has three open vacancies.