HONOLULU/WASHINGTON (Reuters) – President Barack Obama will nominate Harvard economist Jeremy Stein and Jerome Powell, an investment banker and former Treasury official, to the two empty seats on the Federal Reserve’s policy-setting board of governors. The White House’s pick of candidates, who have Democratic and Republican credentials respectively, may help speed their nomination through Congress amid a sluggish economic recovery that has failed to put a major dent in the unemployment rate, now at 8.6 percent. …

Quoted from Obama taps economist, banker as Fed governors on Yahoo! News – Latest News & Headlines

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