Thursday, January 20

Biden could name new Fed officials as soon as this week – source – Reuters

The U.S. Federal Reserve Building is pictured in Washington, March 18, 2008. REUTERS/Jason Reed

WASHINGTON, Jan 5 (Reuters) – U.S. President Joe Biden could announce nominees for three top positions on the Federal Reserve Board as soon as this week, a person familiar with the process said on Wednesday.

A final decision has not been made by the president, the source said, and the timing is still being decided.

Topping the list of potential candidates for governor roles are Lisa Cook, an economics professor at Michigan State University, who would be the Fed’s first Black woman governor; and Philip Jefferson, another Black economist who is vice president for academic affairs and dean of faculty at Davidson College in North Carolina.

Former Fed Governor Sarah Bloom Raskin is viewed as a leading candidate to become the Fed’s vice chair for supervision, the top U.S. banking regulatory role.

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Reporting by Andrea Shalal
Editing by Chizu Nomiyama

Our Standards: The Thomson Reuters Trust Principles.

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