Washington, D.C. and Honolulu – President Obama will nominate Harvard economist Jeremy Stein and former Treasury official and investment banker Jerome Powell, to fill the two empty seats on the Federal Reserve's board of governors.

Stein, previously worked for the Obama administration as an adviser to the Treasury secretary and a National Economic Council staff member. His specialties include stock price behavior, risk management and corporate investment and finance.

Powell a Republican, served at the Treasury during President George H. W. Bush's term in the late 1980s and early 1990s.

A previous Fed nominee, Peter Diamond, an economist from MIT and a Nobel laureate, withdrew his name from consideration citing "intractable" Republican opposition to his nomination.

 

 

 

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access