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Biden will nominate Ruskin, Cook and Jefferson to the Fed board

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WASHINGTON, Jan. 13 () – U.S. President Joe Biden has elected former Federal Reserve Governor Sarah Blum Raskin as Fed Vice President for Supervision and two black economists – Lisa Cook and Philip Jefferson – to serve on his board. process said.

The White House sent the nominees to the Senate on Thursday night, the source said.

If the nominees are approved by the Senate, it would mean a demographic renewal of the world’s most powerful central bank.

These appointments fill the ranks of a seven-member panel that will have a major impact on the U.S. economy and make the Fed’s top leadership more diverse than ever in its 108-year history of race and gender.

“President Biden has invited a serious, qualified, non-partisan group of five candidates to the Federal Reserve Board of Governors, who together bring great skills, experience and expertise to the Federal Reserve,” said a source familiar with him. masala.

“They prioritize the independence of the Federal Reserve and are committed to fighting inflation, maintaining stability in our economy during a pandemic and making sure that our economic growth benefits all workers broadly,” the source said. (Andrea Shalal report; edited by Den Burns)

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