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Biden nominates Raskin, Cook, Jefferson to Fed Board

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Reuters

WASHINGTON (Reuters) -U.S. President Joe Biden has picked former Federal Reserve Governor Sarah Bloom Raskin as the Fed’s vice chair of supervision and two Black economists – Lisa Cook and Philip Jefferson – to serve on its Board of Governors, a source familiar with the process said. The White House sent the nominations to the Senate late on Thursday, the source said. The nominations, if confirmed by the Senate, will represent a landmark demographic overhaul of the world’s most powerful central bank. The appointments would fill out the ranks of a seven-member panel that wields tremendous influ…

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