Photo: POOL / GETTY IMAGES NORTH AMERICA/Getty Images via AFPSource: AFPUS President Joe Biden nominated Philip Jefferson to the number two job at the Federal Reserve Friday, a position left vacant since Lael Brainard left for the White House in February. "I am confident these nominees will help build upon the historically strong economic recovery we have had under my Administration," he added. First Hispanic Fed governorIf confirmed, Kugler will become the first Hispanic-American to serve on the Fed's governing body, and would have a key role to play in setting the interest rate. The three nominees put forward by the Biden administration must now be confirmed by the Democratic-controlled Senate. "Under no circumstances should partisan politics influence the Federal Reserve Board's decision making," he added.

Source: Daily Nation May 13, 2023 04:39 UTC