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Obama to nominate two to Fed Board

By Laurie Bennett

December 27, 2011 at 1:42pm

President Obama intends to nominate an economist and an investment banker to the Federal Reserve Board, the White House announced Tuesday.

The nominees are Jeremy Stein, a Harvard economics professor, and Jerome Powell, a former partner of Carlyle Group.

Both men have worked at Treasury - Stein as senior adviser to the secretary during the Obama administration, and Powell as under secretary under President George H. Bush.

Powell is currently a visiting scholar at the Bipartisan Policy Center, a Washington think tank.

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