White House Scouts 3 Officials for Fed Board

The White House identified three possible candidates, two economists and one lawyer, Friday for the openings on the Federal Reserve Board, according to an article in The New York Times.

The Chicago Tribune reported that the officials are Jane Yellen, current president of the Federal Reserve Bank in San Francisco, Peter Diamond, an Massachusetts Institute of Technology professor, and Sarah Raskin, a Harvard graduate currently serving as commissioner on Maryland's board of financial regulation.

But the candidates are not yet official nominees. White House Press Secretary Robert Gibbs said that Yellen is "a leading contender" for vice chairwoman while the other candidates are "under strong consideration for additional vacancies."

The candidates represent a wide range of financial experience and expertise. Yellen concentrates on creating jobs and economic growth, Diamond's strength is Social Security, and Raskin promotes more financial regulation.

These views could bring a new outlook to a Federal Reserve Board that has been more focused on decreasing inflation and interest rates in recent years.

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This page contains a single entry by Cristeta Boarini published on March 12, 2010 5:02 PM.

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