April 28, 2010
Obama to nominate vice chair, 2 others for Fed
Darlene SupervilleAn official tells The Associated Press that President Barack Obama will name Janet Yellen to be vice chairwoman of the Federal Reserve and fill two other Fed vacancies on Thursday.
The official had advance knowledge of the moves and spoke on condition of anonymity because no details have been announced.
Yellen is the president of the Federal Reserve Bank of San Francisco. As vice chair, her duties would include helping build support for policy positions staked out by Fed Chairman Ben Bernanke, who has begun a second term.
Obama is also expected to nominate Sarah Raskin and Peter Diamond to the Fed board. Raskin is the Maryland commissioner of financial regulation. Diamond is an economist at the Massachusetts Institute of Technology.
The Associated Press