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Report: Trump expected to nominate 2 former government officials to Fed board

President Donald Trump is expected to nominate Randal Quarles and Marvin Goodfriend to the Federal Reserve Board, The New York Times reported June 2, citing people with direct knowledge of the decision.

The nominations, however, haven't been confirmed. White House spokeswoman Lindsay Walters told the news outlet that the White House has not made any announcement at this time.

Quarles, who is supposed to replace Daniel Tarullo, was a U.S. Treasury Department official under the Bush administration. Goodfriend was formerly an economist at the Federal Reserve Bank of Richmond, and he is now a professor of economics.

The two potential nominees are expected to create "conservative counterweights" to Fed chairwoman Janet Yellen's policies, according to The Times. Quarles and Goodfriend have expressed reservations about the Fed's aggressive policies, supporting the idea that the Fed should be more formulaic in its policymaking.

Should the two be nominated, the Fed would have one more position to fill. The name of the third nominee still hasn't been confirmed, The Times reported.