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Fed Governor Philip Jefferson named as new vice chair to succeed Lael Brainard



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Dr. Philip Nathan Jefferson, of North Carolina, nominated to be a Member of the Board of Governors of the Federal Reserve System, speaks during a Senate Banking, Housing and Urban Affairs Committee confirmation hearing on Capitol Hill in Washington, D.C., U.S., February 3, 2022.Ken Cedeno | ReutersFederal Reserve Governor Philip Jefferson will be nominated by President Joe Biden to be vice chairman of the central bank’s board, the White House announced Friday.Though one of the newest members of the Board of Governors, Jefferson would take over a key policymaking position at a time when the Fed is trying to tamp down inflation without causing a harmful recession.Biden also said he will nominate Adriana Kugler for a vacant governor’s seat and Lisa Cook for another term as governor. Kugler is currently the U.S. representative to the World Bank and would be the first Latina on t …

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