DENVER BUSINESS JOURNAL - Randal Quarles, President Donald Trump's pick to join the Federal Reserve's board of governors, was nominated as "Randal Quarles of Colorado" even though he lives in Utah.
The Wall Street Journal reports that Quarles hasn't lived full-time Colorado since he was in second grade. Born in San Francisco, he was raised in Utah before heading off to college.
Now he is co-founder and managing director of the private investment firm Cynosure Group, based in Salt Lake City. Both of Salt Lake City's major newspapers called Quarles a Utahn when he was nominated for the Fed post. When he was picked for a Treasury Department position in 2002, he was identified as “Randal Quarles of Utah.”
But Utah is in the Fed's San Francisco-based 12th District, currently represented on the Fed board by its chairwoman, Janet Yellen of California.
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