President J Biden to Nominate Sarah Raskin as Fed’s Next Vice-chair for Supervision

President Joe Biden is going to nominate Sarah Raskin as the central bank’s next vice-chair for supervision. She is known as the country’s highly powerful banking regulator.

President Biden is also going to nominate Philip Jefferson and Lisa Cook to serve as central bank’s governors.

If nominated Cook will be the first Black woman to represent on the Federal Reserve’s board and Jefferson will be the fourth Black man.

Raskin has experience at the central bank and she served as a governor at the federal reserve from 2010 to 2014.

Jefferson’s name for governor position was in discussions from last few days. Cook’s nomination for the position of governor was well telegraphed.