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Monday, January 13, 2014

Obama to Nominate Fischer, Brainard to Fed Board

President Obama announced that he will nominate Stanley Fischer to replace Janet Yellen as vice chairman of the Federal Reserve. Fischer, a dual American-Israeli citizen and former vice chairman of Citigroup, headed Israel’s central bank from 2005 to 2013. Obama also will nominate former Treasury undersecretary for international affairs Lael Brainard to a vacant seat on the Fed board, and current Fed Governor Jerome Powell to a full term on the board.

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