Those moves would fill the Fed’s remaining vacancy after former vice chair Lael Brainard moved to the White House. A renowned economist, Cook, 58, is the first Black woman to join the Fed board. The White House had been considering other potential nominees for the vice chair role, including Harvard economist Karen Dynan and Northwestern economist Janice Eberly. AdvertisementBefore he joined the Fed, Jefferson, 61, was an economist at Davidson College. He was the fourth Black man appointed to the Fed board and was confirmed with bipartisan support.

Source: Washington Post May 12, 2023 19:31 UTC