Stock Groups

Biden likely to announce Raskin as Fed’s vice chair pick this week

by Mike Robinson

[ad_1]

© Reuters. FILE PHOTO – Sarah Bloom Raskin participates as Deputy Treasury Secret in October 2014.

(Reuters) – Former Federal Reserve Governor Sarah Bloom Raskin could be the US President’s choice to serve as vice chairman of supervision at central bank. Axios reported Monday that an announcement was expected within this week.

Raskin served as the Treasury Department’s under Obama and may bring more regulation to America’s largest bank oversight position, which Randal Quarles, an appointee of Donald Trump, recently left.

Biden will fill the position of vice-chair of supervision on the Fed’s seven member board. This gives the first-term Democrat a chance to make a significant impact on Wall Street oversight as well as U.S. monetary policies.

Biden will also be considering the nomination of two Black economists – Lisa Cook at Michigan University and Philip Jefferson at Davidson College, North Carolina – to fill seats on Fed’s board.

Reuters was unable to immediately contact the White House in order for comment.

The Wall Street Journal reported earlier that Biden was considering Raskin as a nominee for the Board of Governors of its central bank.

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, futures, indexes and Forex. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]