Fed's Ferguson takes oath for new term

UNITED STATES - After spending two years in political limbo, U.S. Federal Reserve Vice Chairman Roger Ferguson was sworn in today, 26 July, for a second term on the U.S. central bank board, the Fed said.

The oath was administered by Fed Chairman Alan Greenspan.

Ferguson's nomination for a second term was approved by the Senate 97-2 a week ago. Ferguson, a well-regarded, Harvard-trained economist and lawyer, has been at the U.S. central bank since 1997. He is the highest-ranking African American