Philip Jefferson nominated as Fed's new vice chair for diversity and labor-market expertise.
TL;DR Summary
President Biden has nominated Federal Reserve Governor Philip Jefferson to be the central bank's vice chairman, a key policymaking position. The move comes as the Fed is trying to balance inflation concerns with avoiding a recession. Biden also nominated Adriana Kugler and Lisa Cook for vacant governor's seats. The nominations require Senate confirmation. Jefferson, a former economics professor, was confirmed to the board in May 2022 and has been relatively quiet on the policy front. If confirmed, he would be the second Black to hold the vice chair position.
Topics:business#banking-crisis#biden-administration#federal-reserve#inflation#philip-jefferson#politics
- Fed Governor Philip Jefferson named as new vice chair to succeed Lael Brainard CNBC
- Fed: Biden elevates Philip Jefferson as Fed vice chair, taps Adriana Kugler as first Latina governor The Washington Post
- Biden to Nominate Philip Jefferson for Fed's No. 2 Job The Wall Street Journal
- Federal Reserve governor Philip Jefferson nominated as central bank's vice-chair Financial Times
- Fed Nominees Kugler, Jefferson Bring Diversity, Labor-Market Knowledge Bloomberg
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