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Search resuls for: "Adriana Kugler"


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☆ Fed Governor Philip Jefferson named as new vice chair to succeed Lael Brainard
  + stars: | 2023-05-12 | by ( Jeff Cox | ) www.cnbc.com   time to read: +3 min
Federal Reserve Governor Philip Jefferson will be nominated by President Joe Biden to be vice chairman of the central bank's board, the White House announced Friday. As vice chair, he takes a position last occupied by Lael Brainard, who is now Biden's director of the National Economic Council. Before coming to the Fed, Jefferson was a professor of economics as well as vice president for academic affairs and dean of faculty at Davidson College. The nomination was not unexpected; multiple media outlets had reported that Jefferson was Biden's likely choice as vice chair. If confirmed, Jefferson would be the second Black person to hold the vice chair position.
☆ Morning Bid: RBA shock hike starts huge week for central banks
  + stars: | 2023-05-02 | by ( ) www.reuters.com   time to read: +2 min
A look at the day ahead in European and global markets from Asia markets correspondent Kevin Buckland. The Reserve Bank of Australia kicked off a string of major central bank meetings this week by surprising markets with a quarter-point rate hike, when most had been positioned for a pause. The debate among policy makers is whether to opt for another half-point hike or slow to a quarter-point pace. The Fed, meanwhile, is widely expected to hike rates by a final quarter point and then signal a pause. Money markets are still betting on a Fed rate cut before the end of the year.
☆ White House considers two key nominations at the Fed - NYT
  + stars: | 2023-05-01 | by ( ) www.reuters.com   time to read: 1 min
May 1 (Reuters) - U.S. President Joe Biden is closing in on two nominations for the Federal Reserve's Board and is likely to nominate Adriana Kugler for the position of governor and Philip Jefferson as the board's vice chair, the New York Times reported on Monday. Reporting by Mrinmay Dey in Bengaluru, Editing by Franklin PaulOur Standards: The Thomson Reuters Trust Principles.
☆ White House Close to Tapping Philip Jefferson for Fed Vice Chair, Adriana Kugler for Board
  + stars: | 2023-05-01 | by ( Andrew Restuccia | Nick Timiraos | ) www.wsj.com   time to read: +1 min
Philip Jefferson has indicated support for the Federal Reserve’s efforts to raise interest rates rapidly to slow the economy and bring down inflation. Photo: Ken Cedeno/Press PoolWASHINGTON—President Biden is close to nominating Federal Reserve governor Philip Jefferson to serve as the central bank’s second-in-command and Adriana Kugler, an economist and top World Bank official, to fill a vacancy on the Fed’s board, according to people familiar with the matter. If confirmed, Ms. Kugler, a Colombian-American economist who now serves as the U.S. executive director at the World Bank, would be the first Latino to serve on the board. Mr. Jefferson would be the Fed’s second Black vice chair. Mr. Biden faced pressure from Sen. Robert Menendez (D., N.J.), a senior member of the Senate Banking Committee, to nominate a Latino economist to the central bank, which has never had a Latino serve as a Fed governor or Fed president.
☆ White House Considers Two Key Nominations at the Fed
  + stars: | 2023-05-01 | by ( Jeanna Smialek | Jim Tankersley | ) www.nytimes.com   time to read: +1 min
WASHINGTON — President Biden is closing in on two nominations for the Federal Reserve’s Board of Governors that would give the Fed its first Latina board member and its second ever Black vice chair, according to several people familiar with the process. Mr. Biden is close to nominating Adriana Kugler, an economist with Colombian heritage who is the U.S. executive director of the World Bank, to the Fed’s only remaining open governor position. In a corresponding move, he is likely to elevate Philip Jefferson, an economist who was confirmed overwhelmingly to the board when Mr. Biden nominated him to an open governor position, to be the board’s vice chair. A White House spokesman declined to comment on Monday. If confirmed by the Senate, Ms. Kugler would fill a governor position recently vacated by Lael Brainard, who became director of the White House National Economic Council in February.
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