President Barack Obama announced Tuesday that he will be nominating Jerome Powell and Jeremy Stein for the Federal Reserve’s Board of Governors.
Powell previously served as a Treasury official in George H. Bush administration. Stein is an Economics Professor at Harvard and served as a member of MIT’s finance faculty for a decade.
“I am grateful that these individuals have agreed to serve their nation at this important time for our economy,” Obama said in a statement. “Their distinguished backgrounds and experience coupled with their impressive knowledge of economic and monetary policy make them tremendously qualified to serve in these important roles.”