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Biden to pick more Fed policymakers this month, White House says -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO: U.S. President Joe Biden announces the nomination of Federal Reserve Chair Jerome Powell for a second four-year term, and Federal Reserve board member Lael Brainard to serve as vice chair, in the Eisenhower Executive Office Building’s South

WASHINGTON (Reuters] – President Joe Biden intends to nominate additional nominees for the U.S. Federal Reserve Board’s open positions by the end the month. This was announced on Tuesday by the White House.

Jen Psaki, White House Press Secretary, stated that they hope to get them soon and continue to wish to deliver those to you this month.

Biden nominated Fed Chair Jerome Powell last month to continue leading the central bank’s operations for four more years. Governor Lael Brainard was selected to fill the role of Fed Vice chair after Richard Clarida retires.

The Fed’s 7-member Board of Governors has three other vacant positions, including Randal Quarles’ vice chair for supervision, who resigned at the end of this year.

According to Reuters, Richard Cordray is being considered as a candidate for this post.

Many analysts believe that Biden will seek out progressives as well as people from different backgrounds. The Fed Board currently is all-white.

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