White House Homes In On New Fed Nominees

Law360, New York (March 12, 2010, 7:23 PM EST) -- Federal Reserve Bank of San Francisco President Janet L. Yellen is a leading contender to become the Federal Reserve's second in command, and a lawyer and an economics professor are under strong consideration for other Fed vacancies, the White House disclosed Friday.

If she is nominated and then approved by the U.S. Senate, Yellen will become vice chairman of the Fed's Board of Governors. Peter A. Diamond, a professor at the Massachusetts Institute of Technology, and Sarah Bloom Raskin, a lawyer who is Maryland's commissioner of...
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