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5/17, 6:16 PM (Source: TeleTrader)
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WH mulling Derek Kan for Fed Board opening - reports

The White House is considering choosing Derek Kan (pictured left) to fill one of two vacancies that are available on the Federal Reserve Board, media reported on Friday citing sources familiar with the matter.

Kan, who is the Under Secretary of Transportation for Policy, was Lyft's general manager prior to taking up his current position. He also served as a policy advisor to Senate Republican Mitch McConnell and as the chief economist for the Senate Republican policy committee. Kan is being considered for the openings along with conservative economist Judy Shelton.

Previous candidates for the vacancies included Herman Cain, Stephen Moore and Paul Winfree. However, United States President Donald Trump subsequently gave up on the idea of nominating Cain after fierce bipartisan opposition while Moore withdrew from the process himself.

Breaking the News / DZ