04/30/10

Permalink Obama nominates 3 to Federal Reserve board

President Barack Obama on Thursday nominated three new Federal Reserve Board members whose confirmation would appear to give Fed chief Ben Bernanke a firmer grasp on the course of interest rates.

Janet Yellen, president of the San Francisco Federal Reserve Bank, to be vice chairman of the Fed's board of governors. She is nominated for a full 14-year term expiring in 2024.
Peter Diamond, an economist at the Massachusetts Institute of Technology, for a term ending in 2014.
Sara Bloom Raskin, the Maryland state banking regulator, for a term ending in 2016.

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