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Biden taps Raskin, Cook and Jefferson for Fed Board -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A view of Washington’s Federal Reserve Building, 16 September 2008. REUTERS/Jim YOUNG

WASHINGTON, (Reuters) – The White House announced Friday that former Federal Reserve Governor Sarah Bloom Raskin was nominated by Joe Biden to become the bank’s vice-chair for supervision. It also appointed two Black economists Lisa Cook and Philip Jefferson to its board of governors.

These nominations, if approved by the Senate would expand the number of seven members on a panel that has a tremendous impact over the U.S. economic system and make the Fed’s leadership racial and gender-neutral than at any point in its 108-year-old history.

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