A source is reporting that US Pres. Biden could announce remaining Federal Reserve nominees as soon as this week.
Lisa Cook, Sarah Bloom Raskin, Philip Jefferson are considered the top candidates as the President looks to diversify the Fed board.
- Cook is an American economist working as a professor of economics and international relations at Michigan State University and a member of the American Economic Association's Executive Committee. Cook was on Biden's transition team. Cook would be nominated as a FOMC board member
- Raskin is an American attorney and regulator, who was formerly a member of the Board of Governors of the Federal Reserve System and a former United States Deputy Secretary of the Treasury. Raskin is set to be nominated as the Fed’s top banking regulator. Raskin was on the FOMC board from 2010 tp 2014, and was Pres. Obama's deputy secretary of the treasury. Raskin would replace Fed's Quarles as the central bank's chief regulator.
- Jefferson is vice president for academic affairs, dean of the faculty, and Paul B. Freeland professor of economics at Davidson College. Jefferson previously worked as an economist for the Federal Reserve’s board of governors, as well as for the New York Fed. Jefferson will be nominated as a FOMC board member.
If confirmed, Lisa Cook would be the first Black woman on the Fed board in its 108-year history.
Philip Jefferson would be the fourth Black man on the board.
For more on the potential nominees see the Washington Post article HERE (it is not gated).