President Joe Biden announced three nominations to fill openings on the Federal Reserve Board.
Nominees: Biden nominated:
Former Fed Governor, Deputy Treasury Secretary, and Maryland Commissioner of Financial Regulation Sarah Bloom Raskin to serve as vice chair for supervision.
Michigan State University professor and former Obama administration economist Lisa DeNell Cook.
Davidson College academic and former Fed economist Philip Nathan Jefferson.
Background: Biden has separately nominated Fed Chairman Jerome Powell for another term and Fed Governor Lael Brainard for vice chair. The Senate Banking Committee held hearings on their nominations last week.
Impact: If the nominees are confirmed, the Fed board would be at full strength for the first time since 2013.
