Trump to nominate Quarles to be first Fed vice chairman of supervision

U.S. President Donald Trump waves as walks on the South Lawn of the White House upon his return to Washington, U.S., from the G20 Summit in Hamburg, July 8, 2017. REUTERS/Yuri Gripas

WASHINGTON (Reuters) - U.S. President Donald Trump plans to nominate former Treasury official Randal Quarles to be the Federal Reserve's first vice chairman of supervision, the White House said on Monday.

Quarles' nomination must be confirmed by the Senate.

(Reporting by Steve Holland; Writing by Eric Beech)