White House to announce nominee for Fed board, source says

By Emily Stephenson WASHINGTON (Reuters) – The White House will soon announce a nominee to the Federal Reserve Board, a person familiar with the matter said on Friday, in a move that would begin the process of filling one of the Fed’s two empty seats in Washington. The person said the White House will announce a nominee next week or the following week, adding that the nominee will likely have a community banking background. The move comes as the new U.S. Congress convenes next week, with Republicans in control of both chambers after wresting the Senate from Democrats in November. …

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