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Biden could name new Fed officials as soon as this week

by Mike Robinson

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© Reuters. FILE PHOTO – The U.S. Federal Reserve Building in Washington is pictured on March 18, 2008. REUTERS/Jason Reed

WASHINGTON, (Reuters) – The U.S. President Joe Biden may announce three nominees for the top Federal Reserve Board positions as early as next week according to a source familiar with the matter.

The source stated that the president is yet to make a decision.

Lisa Cook (an economics professor at Michigan State University) is the top candidate for the Fed’s governor role. Philip Jefferson (another Black economist), who is vice president of academic affairs at Davidson College and dean for faculty at North Carolina’s Davidson College, are also on the list.

Sarah Bloom Raskin, ex-Fed Governor, is being considered as one of the leading candidates to be the Fed’s vice chairfor supervision. It is the highest U.S. bank regulatory role.

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