United States President Joe Biden has announced his nomination of two people for key positions on the Federal Reserve, including a new Fed governor and economist Philip Jefferson as vice chair.
In a May 12 notice from the White House, President Biden said he would put forward Jefferson — currently a Fed governor — to become the next vice chair of the central bank, replacing Lael Brainard, who resigned in February. The President added that Adriana Kugler, a former chief economist for the U.S. Department of Labor, was his pick for one of the Fed Board of Governors’ empty seats. He will also be renominating Fed governor Lisa Cook for a full term.
