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.
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