President nominates three to fill vacant Fed seats
Janet Yellen, president of the Federal Reserve Bank of San Francisco, has been nominated by President Obama to be vice chairman of the Federal Reserve Board. The president also nominated Sarah Bloom Raskin and Peter Diamond to open seats on the seven-person board. Raskin is the commissioner of financial regulation for Maryland, and Diamond is an economics professor at the Massachusetts Institute of Technology. Donald Kohn, the current vice chairman, previously announced he will step down June 23 after a 40-year career at the Fed . . .
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