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President Obama Announces Intent to Nominate Three Individuals to the Board of Governors of the Federal Reserve System

WASHINGTON–(ENEWSPF)–April 29, 2010.  Today, President Barack Obama announced his intent to nominate the following individuals to the Board of Governors of the Federal Reserve System:

Janet L. Yellen, Governor and Vice-Chair, Board of Governors of the Federal Reserve System
Peter Diamond, Governor, Board of Governors of the Federal Reserve System
Sarah Bloom Raskin, Governor, Board of Governors of the Federal Reserve System

President Obama said, “The depth of experience these individuals bring in economic and monetary policy, financial regulation, and consumer protection will make them tremendous assets at the Fed.  I am grateful they have chosen to dedicate their talents to serving the American people.”

President Obama announced his intent to nominate the following individuals to the Board of Governors of the Federal Reserve System:

Janet L. Yellen, Nominee for Governor and Vice Chair, Board of Governors of the Federal Reserve System

Dr. Janet L. Yellen currently serves as President of the Federal Reserve Bank of San Francisco, a position she has held since 2004.  She previously served as a member of the Board of Governors of the Federal Reserve System from 1994 to 1997 and then as the Chair of the Council of Economic Advisers from 1997 to 1999.  Dr. Yellen is professor emeritus at the Haas School of Business at the University of California, Berkeley, where she was the Eugene E. and Catherine M. Trefethen Professor of Business Administration and has been a faculty member since 1980.  She received her bachelor’s degree from Brown University and her Ph.D. from Yale University.

Peter Diamond, Nominee for Governor, Board of Governors of the Federal Reserve System

Dr. Peter Diamond currently serves as an Institute Professor at the Massachusetts Institute of Technology, where he has been a member of the economics faculty since 1966.  He has previously served as President of the American Economic Association, President of the Econometric Society, and President of the National Academy of Social Insurance.  The author or editor of 12 books and more than 130 articles, Dr. Diamond is a fellow of the American Academy of Arts and Sciences and a member of the National Academy of Sciences.  He received his bachelor’s degree from Yale University and his Ph.D. from the Massachusetts Institute of Technology.

Sarah Bloom Raskin, Nominee for Governor, Board of Governors of the Federal Reserve System

Ms. Sarah Bloom Raskin currently serves as Commissioner of Financial Regulation for the State of Maryland, where she regulates diverse financial institutions including banks, credit unions, mortgage lenders, mortgage servicers, mortgage originators, trust companies, collection agencies, debt management companies, and consumer installment lenders.  She chairs the Federal Legislation Committee for the Conference of State Bank Supervisors as well as the Regulatory Restructuring Task Force and the Consumer Financial Products Agency Task Force.  She also is a member of the State Liaison Committee for the Federal Financial Institutions Examination Group.  Previously, she was Banking Counsel to the U.S. Senate Committee on Banking, Housing, and Urban Affairs and served as Managing Director at Promontory Financial Group.  Ms. Raskin received her bachelor’s degree from Amherst College and her J.D. from Harvard Law School.

 

Source: whitehouse.gov

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