Dr. Philip Nathan Jefferson, of North Carolina, nominated to be a Member of the Board of Governors of the Federal Reserve System, speaks during a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., February 3, 2022.Ken Cedeno | ReutersFederal Reserve Governor Philip Jefferson will be nominated by President Joe Biden to be vice chairman of the central bank’s board, the White House announced Friday.Though one of the newest members of the Board of Governors, Jefferson would take over a key policymaking position at a time when the Fed is trying to tamp down inflation without causing a harmful recession.Biden also said he will nominate Adriana Kugler for a vacant governor’s seat and Lisa Cook for another term as governor. Kugler is currently the U.S. representative to the World Bank and would be the first Latina on the board, while Cook has been on the board since May 2022.”These nominees understand that this job is not a partisan one, but one that plays a critical role in pursuing maximum employment, maintaining price stability, and supervising many of our nation’s financial institutions,” Biden said in a statement. “I am confident these nominees will help build upon the historically strong economic recovery we ha …
Article Attribution | Read More at Article Source
[mwai_chat context=”Let’s have a discussion about this article:nnDr. Philip Nathan Jefferson, of North Carolina, nominated to be a Member of the Board of Governors of the Federal Reserve System, speaks during a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., February 3, 2022.Ken Cedeno | ReutersFederal Reserve Governor Philip Jefferson will be nominated by President Joe Biden to be vice chairman of the central bank’s board, the White House announced Friday.Though one of the newest members of the Board of Governors, Jefferson would take over a key policymaking position at a time when the Fed is trying to tamp down inflation without causing a harmful recession.Biden also said he will nominate Adriana Kugler for a vacant governor’s seat and Lisa Cook for another term as governor. Kugler is currently the U.S. representative to the World Bank and would be the first Latina on the board, while Cook has been on the board since May 2022.”These nominees understand that this job is not a partisan one, but one that plays a critical role in pursuing maximum employment, maintaining price stability, and supervising many of our nation’s financial institutions,” Biden said in a statement. “I am confident these nominees will help build upon the historically strong economic recovery we ha …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
