Obama to Nominate Stanley Fischer for Fed Vice Chairman
President Obama is also planning on nominating Lael Brainard and Jerome Powell to the Board of Governors of the Federal Reserve System.
According to the press release, President Obama said, “These three distinguished individuals have the proven experience, judgment and deep knowledge of the financial system to serve at the Federal Reserve during this important time for our economy. Stanley Fischer brings decades of leadership and expertise from various roles, including serving at the International Monetary Fund and the Bank of Israel.”
Jerome Powell is currently serving on the Board of Governors, but his first term expires January 31. Powell would represent the Philadelphia region.
Lael Brainard served in the Obama administration as Under Secretary of the Treasury for International Affairs. She stepped down from that role in November. Brainard would represent the Richmond region.
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