washington u.s. president donald trump wednesday nominate carnegie mellon university professor marvin goodfriend become member federal reserve board governors add well-known monetary economist central bank lose two top economic thinkers nomination confirm senate help ensure 7-member board governors keep least four seat fill follow announce departure feed chair janet yellen predecessor current feed gov jerome powell approve senate along powell goodfriend would join recently appoint vice chair supervision randal quarles feed gov lael brainard atop world influential central bank former economic adviser administration president ronald reagan research director richmond federal reserve bank 1993 2005 goodfriend arguably conservative trump feed appointments yet critical recent feed practice include purchase mortgage back securities also argue central bank invite oversight elect officials include get congressional sign percent inflation target discussion policy decisions line reference rule ideas likely find favor among conservatives capitol hill feel feed accumulate much influence write also defy easy description argue benefit negative interest rat example way give central bank flexibility combat crises rather resort unconventional mean like bond buy rat cut zero perhaps significantly bring recognize academic credentials feed board lose yellen recognize expert labor market october lose vice chair stanley fischer one intellectual force behind modern central bank powell lawyer laud trump private sector experience also first non-economist run feed since 1970s goodfriend bring board background many debate intellectual fight inflation target issue fischer yellen participate years trump nominate marvin goodfriend feed governor post