{"id":30060,"date":"2023-05-01T21:46:28","date_gmt":"2023-05-01T21:46:28","guid":{"rendered":"https:\/\/lynettelockhart.com\/client\/white-house-considers-two\/"},"modified":"2023-05-01T23:00:40","modified_gmt":"2023-05-01T23:00:40","slug":"white-house-considers-two","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/white-house-considers-two\/","title":{"rendered":"White House considers two key nominations at the Fed -NYT"},"content":{"rendered":"<p>(Reuters) -U.S. President Joe Biden is likely to nominate current Federal Reserve Governor Philip Jefferson to be the central bank&#8217;s vice chair and World Bank economist Adriana Kugler as a governor, the New York Times reported on Monday.<\/p>\n<p>Jefferson, a former economics professor who has been on the seven-seat Fed Board for just under a year, would be the U.S. central bank&#8217;s second-ever Black vice chair.He would fill the spot vacated by Lael Brainard, who in February left to become one of Biden&#8217;s chief economic advisors. <\/p>\n<p>Kugler, a Colombian-American, would be the central bank&#8217;s first-ever Latina governor and would fill the position left vacant by Jefferson. <\/p>\n<p>The twin appointments could represent a political sweet spot for Biden who would need to get both appointments through a deeply divided Senate.<\/p>\n<p>Jefferson last year sailed through his Senate confirmation, drawing unanimous approval from a group that confirmed Brainard by a 52-43 vote and Jefferson&#8217;s colleague Lisa Cook only with the tie-breaking vote of Vice President Kamala Harris. <\/p>\n<p>The choice of Kugler could satisfy Senator Bob Menendez, who broke ranks with fellow Democrats in 2022 to vote against Biden&#8217;s renomination of Jerome Powell as Fed chair because of what he said was the central bank&#8217;s diversity problem. <\/p>\n<p>He has been pushing the White House to name a Latino or Latina to the board, and for at least one of the Fed regional banks to name a Latino as Fed bank president for the first time.<\/p>\n<p>The report of Biden&#8217;s impending nominations came on the eve of a Fed meeting this week where policymakers are expected to continue their fight against high inflation by increasing the benchmark short-term borrowing rate to 5.00% to 5.25%. <\/p>\n<p>Jefferson has joined his fellow policymakers in every rate-hike decision since he took his post last May.<\/p>\n<p>White House press secretary Karine Jean-Pierre told reporters at the White House on Monday that Biden&#8217;s pick for a Brainard&#8217;s replacement would come in the &#8220;very near future.&#8221;<\/p>\n<p> (Reporting by Mrinmay Dey in Bengaluru, Andrea Shalal and Jeff Mason in Washington; Editing by Franklin Paul and Josie Kao)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/white-house-considers-two\/file-photo-federal-reserve-building-is-pictured-in-washington-11\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ400TT-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ400TT-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) -U.S. President Joe Biden is likely to nominate current Federal Reserve Governor Philip Jefferson to be the central bank&#8217;s vice chair and World Bank economist Adriana Kugler as a governor, the New York Times reported on Monday. Jefferson, a former economics professor who has been on the seven-seat Fed Board for just under a [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":30130,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-30060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ400TT-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/30060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=30060"}],"version-history":[{"count":2,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/30060\/revisions"}],"predecessor-version":[{"id":30131,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/30060\/revisions\/30131"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/30130"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=30060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=30060"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=30060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}