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SALT LAKE CITY (AP) -- President Bush has formally nominated a Utah native to be an undersecretary at the Treasury Department.
In the position, Randal K. Quarles would have oversight of U-S banking and financial markets and manage the national debt.
Quarles is currently the assistant secretary of Treasury in charge of international affairs and has been serving as the acting undersecretary of the branch.
The nomination will require approval by the Senate Finance Committee and the full Senate.
Quarles was raised in Roy and received a philosophy degree from Columbia College and a law degree from Yale Law School.
(Copyright 2005 by The Associated Press. All Rights Reserved.)