Business

Biden to announce three more Federal Reserve nominees


Former U.S. Deputy Treasury Secretary Sarah Bloom Raskin, shown here before the opening ceremony of the Asia-Pacific Economic Cooperation finance ministers meeting in Beijing in 2014 is one of the three nominees President Joe Biden is expected to announce to the Federal Reserve's Board of Governors on Friday.


Former U.S. Deputy Treasury Secretary Sarah Bloom Raskin, shown here before the opening ceremony of the Asia-Pacific Economic Cooperation finance ministers meeting in Beijing in 2014 is one of the three nominees President Joe Biden is expected to announce to the Federal Reserve's Board of Governors on Friday.


Andy Wong/AP file photo President Joe Biden plans to announce three additional nominees for the Federal Reserve Board on Friday, rounding out the central bank's governing body as it prepares to tackle the highest inflation in nearly four decades.


A source familiar with the president's plans said Biden will tap former Fed governor Sarah Bloom Raskin to serve as Vice Chair for Supervision — a key regulatory role.


In addition, Biden plans to nominate academic economists Lisa Cook and Philip Jefferson to fill the remaining vacancies on the Fed's seven-member governing board.


Her academic research has explored areas such as innovation by African Americans and the negative effect on Black patents after lynchings and other attacks.






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