President nominated Philip Jefferson, a member of the 's Board of Governors, to serve as vice chair of the board, the White House announced Friday.Biden has also chosen Adriana Kugler, a Georgetown University economist, to join the Fed's board. If confirmed by the , she would become the first Hispanic American on the Fed's interest-rate-setting committee and Jefferson, if confirmed, would become the second Black man to serve as the Fed's No. 2 official.The board of the central reserve remains overwhelmingly white but the nominations of Jefferson and Kugler further transform the diversity of the bank's leadership in just two years.
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