Bloomberg News

Obama Announces He’s Nominating Powell, Stein to Fed Board

January 03, 2012

Dec. 27 (Bloomberg) -- President Barack Obama said he’s nominating for the Federal Reserve Board two former U.S. Treasury Department officials, including one who served in a Republican administration.

Obama said in a statement he has picked Jerome Powell, an attorney who was a Treasury undersecretary for former President George H.W. Bush, and Jeremy Stein, a Harvard University economist who has advised the current administration.

“Their distinguished backgrounds and experience coupled with their impressive knowledge of economic and monetary policy make them tremendously qualified,” Obama said.

To contact the reporter on this story: Roger Runningen in Washington at rrunningen@bloomberg.net

To contact the editor responsible for this story: Robin Meszoly at rmeszoly@bloomberg.net


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