Biden nominates Philip Jefferson as Fed's new vice chair.
TL;DR Summary
President Biden has nominated Adriana D. Kugler, the first Latina governor, and Philip Jefferson, the second Black vice chair, to the Federal Reserve Board, filling the remaining vacancy after former vice chair Lael Brainard moved to the White House. Biden will also renominate Fed governor Lisa Cook to another full, 14-year term. The decisions would further Democrats’ attempts to make the 109-year-old central bank more reflective of the country it serves. The nominations come at a time when the Fed is uncertain of its next move due to a mix of good and bad economic news and the looming prospect of a catastrophic U.S. government default.
- Fed: Biden elevates Philip Jefferson as Fed vice chair, taps Adriana Kugler as first Latina governor The Washington Post
- Fed Governor Philip Jefferson named as new vice chair to succeed Lael Brainard CNBC
- Biden names historic Fed picks as inflation fight wears on POLITICO
- Biden to Nominate Philip Jefferson for Fed's No. 2 Job The Wall Street Journal
- White House nominates Fed Governor Philip Jefferson as new vice chair to succeed Lael Brainard CNBC Television
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