ML-Implode News - First Two Likely Trump Fed Appointments Set Up Change in Direction

The president is prepared to nominate Randal Quarles and Marvin Goodfriend to two of three vacancies at the central bank, according to multiple press accounts that have not been disputed by the administration. Quarles likely would assume the role vacated by Daniel Tarullo to oversee the nation's banking system. White House officials did not respond to a CNBC request for comment.
Should Trump nominate the two men and they receive confirmation, it will represent the first steps in a possible substantial remaking of a Fed that has practiced ultra-loose monetary policy for the past decade but has been tight on banking regulations.

Trump will have the opportunity to name one more person now, then can fill two even more critical vacancies in 2018 -- that of Chair Janet Yellen and Vice Chair Stanley Fischer.

If the Quarles and Goodfriend moves are indicators of what's to come, things could start getting less comfortable for Yellen. Both are considered solidly conservative, in line with the Republican president and Congress but perhaps not with Yellen.''
...
Being that Goodfriend is known to not be a fan of the easing programs the Fed instituted to spark the economy, is "skeptical" of the central bank's plan to roll off its $4.5 trillion bond portfolio, and is likely to favor a rules-based approach to setting policy, that could set up further conflicts. Goodfriend did not respond to a request for comment.
...
On the regulatory side, Gardner said the two men would accelerate a Trump administration push to make rules friendlier for community and regional banks rather than big Wall Street institutions.

Relevant:

First Two Likely Trump Fed Appointments Set Up Change in Direction