Biden taps Raskin, Cook and Jefferson for Fed Board

FILE PHOTO: A view of the Federal Reserve Building in Washington
FILE PHOTO: A view of the Federal Reserve Building in Washington, September 16, 2008. REUTERS/Jim YOUNG

January 14, 2022

WASHINGTON (Reuters) – U.S. President Joe Biden on Friday nominated former Federal Reserve Governor Sarah Bloom Raskin to be the central bank’s vice chair for supervision and two Black economists, Lisa Cook and Philip Jefferson, to serve on its board of governors, the White House said on Friday.

The nominations, if confirmed by the Senate, would fill out the ranks of a seven-member panel that wields tremendous influence over the U.S. economy and would make the Fed’s leadership more diverse by race and gender than ever before in its 108-year history.

(Reporting by Kanishka Singh and Chris Gallagher; Editing by Tim Ahmann)