Obama Nominates Three to Fed Board
President Barack Obama announced the nomination of two economists and a lawyer to the Federal Reserve Board, reshaping the central bank's top ranks at a critical period for financial regulation and monetary policy.
The White House tapped Janet Yellen, president of the San Francisco Federal Reserve Bank, to be the board's vice chairman, and Massachusetts Institute of Technology economist Peter Diamond and Maryland state banking regulator Sarah Bloom Raskin to sit on the seven-member board. The Senate is likely to confirm them.
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