US President Joe Biden has introduced the appointment of two individuals to key Federal Reserve posts, together with a brand new Fed governor and economist Philip Jefferson as vice chairman.
In a Could 12 discover from the White Home, President Biden mentioned he would nominate Jefferson — presently the Fed governor — to change into the central financial institution’s subsequent vice chairman, changing Lael Brainard, who resigned in February. The chairman added that Adriana Kugler, a former chief economist on the US Division of Labor, was his alternative for one of many empty seats on the Fed’s Board of Governors. He will even reappoint Fed Governor Lisa Cook dinner for a full time period.
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