Pursuits
Trump Considering U.S. Bancorp's Davis for Fed Board Seat, Source Says
- Davis is a contender for one of three central bank openings
- CEO has led Minneapolis-based lender for more than a decade
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Donald Trump is considering nominating U.S. Bancorp Chief Executive Officer Richard Davis for the Federal Reserve Board, said people familiar with the matter, as the president prepares to start reshaping the central bank’s approach to monetary policy and Wall Street oversight.
Davis, who has announced he plans to retire as chief of the Minneapolis-based bank later this year, is a contender to fill one of three openings on the seven-member Fed board, said people who asked not to be named because the process is still in flux. Next year, Trump will have even more opportunity to put his stamp on the world’s most powerful central bank when Janet Yellen’s term as chair expires.