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White House closes in on three remaining Fed nominations
The White House is strongly considering nominating Sarah Bloom Raskin to become the Federal Reserve’s top banking regulator, and Lisa Cook and Philip Jefferson as Fed governors, according to people familiar with the decision-making process. The nominees would complete President Biden’s roster to the Fed’s seven-seat board, while appealing to Democrats who have pushed for stronger Wall Street oversight and those who have pressed for more diversity within the Fed’s top ranks. If confirmed, Cook would be the first Black woman on the Fed board in its 108-year history. Jefferson would be the fourth Black man on ... (full story)