Washington DC - President Donald Trump on Monday named a former banker and an airline CEO to be Federal Reserve vice chair and head of the FAA respectively.

Tapping industry insiders for positions that are supposed to regulate banking and aviation, Trump announced Michelle Bowman and Bryan Bedford in Truth Social posts.

Bowman, a former community banker, was nominated by Trump to the Fed's governing board in 2018 and will need to be confirmed by the Senate.

She has been a vocal critic of attempts by former vice chair Michael Barr to impose tougher banking regulation as part of an international response to the 2007-2009 global financial crisis.

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"If confirmed, I will promote a safe and sound banking system through a pragmatic approach to supervision and regulation with a transparent and tailored bank regulatory framework that encourages innovation," Bowman said in a statement.

The American Bankers Association (ABA), which represents the interests of the US banking industry, gleefully celebrated her nomination.

Republic Airways CEO Bedford, meanwhile, will lead the Federal Aviation Administration, which manages the US Air Traffic Organization and is overseeing Boeing's safety operations following a series of high-profile disasters.

Trump said Bedford will work with the Transportation Secretary "to strongly reform the agency, safeguard our exports and ensure the safety of nearly one billion annual passenger movements."

The FAA has not been spared brutal staff cuts by Trump ally Elon Musk's so-called Department of Government Efficiency, which is seeking to dismantle the administrative state and regulatory agencies.