WASHINGTON (MNI) – The three names floated by the White House weeks
ago are turning into nominations to Federal Reserve Board positions,
with San Francisco Fed President Janet Yellen to be vice chair and
economist Peter Diamond and Maryland State banking regulator Sarah Bloom
Raskin rounding out the formal announcements Thursday, the Wall Street
Journal reported.
While not expected to prompt any major shift in rate policy, the
nominees will reinforce the Board’s lean toward policymakers eager to
fashion guardrails that protect the financial system from excessive risk
taking.
If the new nominees are confirmed by the Senate, President Obama
will have installed four of the seven governors since taking office and
has given Ben Bernanke a second four-year term as chairman as well, the
newspaper noted.
** Market News International Washington Bureau: 202-371-2121 **
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