Obama Expected To Nominate Stanley Fischer As Fed Vice Chairman Today

Stanley FischerREUTERS/Gregg NewtonStanley Fischer.

Bloomberg News is reporting that President Obama is expected to nominate Stanley Fischer, Lael Brainard, and Jerome Powell to the Federal Reserve today.

Fischer, the former governor of the Bank of Israel, is Obama’s choice for Fed vice chairman.

Powell already serves on the Fed’s board of governors, but his term expires January 31.

Lael Brainard served in the Obama administration on the United States Under Secretary of the Treasury for International Affairs until she stepped down in November.

“These three distinguished individuals have the proven experience, judgment and deep knowledge of the financial system to serve at the Federal Reserve during this important time for our economy,” Obama said in a statement.

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