
IPFS News Link • Federal Reserve
Obama to nominate Powell, Stein as Fed governors
• ReutersPresident Barack Obama will nominate Harvard economist Jeremy Stein and Jerome Powell, an investment banker and former Treasury official, to the two empty seats on the Federal Reserve's policy-setting board of governors.
The White House's pick of candidates, who have Democratic and Republican credentials respectively, may help speed their nomination through Congress when the U.S. economy faces a period of frustratingly slow improvement that has failed to put a major dent in the unemployment rate, now at 8.6 percent.