Marvin Goodfriend, an economist who was unsuccessfully nominated by President Trump to serve as a governor of the Federal Reserve Board, has died at the age of 69.
Goodfriend was Professor of Economics at Carnegie Mellon's Tepper School of Business from 2005 until his death. From 1993 to 2005, he was director of research and policy advisor at the Federal Reserve Bank of Richmond.
President Trump nominated him to fill a Fed board vacancy in November 2017. Although he had a hearing before the Senate Banking Committee, his nomination was not forwarded to a vote before the full Senate. The nomination lapsed at the end of 2018 and the president did not renew it with the next Congress.
“Marvin’s passing is a sad and untimely loss,” said Jeffrey Lacker, a former president of the Richmond Fed and a longtime colleague of Goodfriend. “He was a treasured colleague, friend and mentor to me, and his insights had an enormous and lasting influence.”