Marvin Goodfriend, professor of economics at Carnegie Mellon University, speaks at the Jackson Hole economic symposium on Friday, Aug. 26, 2016.

President Donald Trump has nominated Carnegie Mellon University professor Marvin Goodfriend to be a member of the Federal Reserve Board of Governors, the White House said in a statement on Wednesday.

If confirmed by the Senate, Goodfriend would take the seat vacated by Sarah Bloom Raskin, who resigned in 2014, the statement said.