Biden nominates Jefferson as Fed vice-chair
President chooses first Latinx candidate for Fed board, and names Cook for full term
US president Joe Biden has nominated Philip Jefferson to be vice-chair of the Federal Reserve Board, part of a slate of three candidates announced May 12.
Biden also chose Georgetown University professor Adriana Kugler to fill a vacant Fed board seat, and put forward current governor Lisa Cook for a full term.
Jefferson and Kugler were rumoured to be in line for the vice-chair and governor positions in the first week of May. If confirmed, Kugler would become the first person of Latinx
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