Wall Street rose on Friday, setting up a strong finish to the week, after President Donald Trump’s interim pick for a Fed governor post fueled expectations of a more dovish policy ahead.

At 9:34 a.m. ET, the Dow Jones Industrial Average rose 134.42 points, or 0.31%, to 44,103.06, the S&P 500 gained 17.22 points, or 0.27%, to 6,357.22 and the Nasdaq Composite advanced 44.83 points, or 0.21%, to 21,287.53.

Trump moved to reshape the Fed on Thursday, nominating Council of Economic Advisers’ chair Stephen Miran for a short-term board seat after Adriana Kugler’s abrupt exit—and narrowing his shortlist to replace Jerome Powell, whose term ends May 15.

On the same day, Bloomberg News reported that Fed Governor Christopher Waller was emerging as a leading contender for the chair.

Investors wer

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