A breath of fresh air? President Joe Biden has tapped former Fed Sarah Bloom Raskin to fill in as vice chair for supervision for the Federal Reserve, and two economists to fill empty seats on the Fed board of governors.
The White House has officially tapped former Fed governor Sarah Bloom Raskin to serve as the vice chair for supervision for the Federal Reserve, as well as economists Lisa Cook and Philip Jefferson to fill two empty seats on its board of governors.he had nominated Cook, an Obama-era economic adviser and Michigan State University faculty member, as well as Jefferson, a former research economist for the Fed, to the board of governors in addition to Raskin.
The vice-chair for supervision, as opposed to the vice-chair of the Federal Reserve’s board of governors, is a relatively new role within the government agency. Randal Quarles was the first to hold the position for the full four-term year from 2017 to 2021, shortly before resigning as a Fed board member in December.
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