WASHINGTON, Nov. 14 (Xinhua) -- The White House is considering picking economist Mohamed El-Erian to potentially serve as vice chair at the Federal Reserve, the Wall Street Journal reported Tuesday.
El-Erian, chief economic adviser at Allianz Global Advisers and former chief executive of Pacific Investment Management Co. (PIMCO), is one of several candidates under consideration for the post, the report said, citing a person familiar with the matter.
While no decisions have been made, the White House has placed a heavy focus on selecting a vice chair with a strong background in monetary policy, the person said.
The process of selecting the No. 2 official at the central bank began this month after U.S. President Donald Trump nominated Fed governor Jerome Powell to succeed Fed Chair Janet Yellen, whose term expires next February.
Stanley Fischer resigned last month as the Fed's vice chair, citing personal reasons.