Biden Moves to Remake the Federal Reserve

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Latest nominees include former regulator, academic economist

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President Jerome Powell

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, nominated for a second four-year term at the helm of the central bank. Mr. Powell was first nominated to the board in 2011 by former President Barack Obama, before being promoted to the top post of the Fed by former President Donald Trump.

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lil brainard

, an economist and Fed governor nominated to serve as the central bank’s vice president, the central bank’s No. 2 official. Originally tapped by Mr. Obama to join the central bank, he has served on the Fed’s board since 2014. His term ends in 2026.

Sarah Bloom Ruskin

, an attorney, former Fed governor, former top Treasury Department official and former Maryland State Commissioner for Financial Regulation. He was named to serve as the Fed’s vice president of oversight, its top banking regulator. She will fill a term that expires in 2032.

Philip JeffersonAn academic economist and dean of the faculty at Davidson College, whose research has focused on labor markets and poverty. He has been nominated for a full 14-year term.

Lisa Cook, professor of economics at Michigan State University, who was Obama’s White House economic adviser. She has been nominated for a term that will end in 2024.

The two remaining board members are:

Michelle Bowman

, a former community-bank executive and Kansas State Bank commissioner, previously named to the board by Mr. She joined the board in 2018. His term ends in 2034.

Christopher Waller

, an economist and former research director at the St. Louis Fed, tapped by Mr Trump in 2020 for a term ending in 2030.

Write Paul Kiernan [email protected] . Feather


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