January 11, 2014 09:52
U.S. President Barack Obama has nominated three people to the board of the country's powerful central bank.
Obama named Stanley Fischer, a former governor of Israel's central bank who holds dual U.S. and Israeli citizenship, to be vice chairman of the Federal Reserve. If confirmed by the Senate, the 70-year-old Fischer would replace Janet Yellen, who is taking over as Fed chair next month as the eight-year tenure of Ben Bernanke expires.
The president also nominated Lael Brainard, one of his former international economic advisers, to the seven-member board, and renominated current board member Jerome Powell for a second term.
The Fed board sets policies for the world's largest economy as it attempts to boost job growth and keep inflation in check.
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