Biden is considering a number of candidates to replace Lael Brainard, who left her post as Fed vice chair last month to become Biden’s top economic adviser.
White House press secretary Karine Jean-Pierre told reporters that the nomination was a priority for Biden.
“We don’t have anything to preview with regard to the candidate or announcements, but clearly, we’ll have something in the near future,” she said.
Brainard has been a Fed board member since 2014 and its vice chair since last May. She took up her duties at the White House late last month.
The Fed vice chair plays a key role in forming U.S. monetary policy and is typically held by a PhD economist.
Source: Economy - investing.com
