Fed Faces

In addition to nominating Janet Yellen to be Chairwoman of the Fed, President Obama will soon nominate three, and possibly four, new people to soon-to-be vacant slots on the seven-member Federal Reserve Board of Governors, all of whom vote on interest rate matters. Among the nominees, expect at least one Republican, one woman, and one with extensive regulatory knowledge given the Fed’s growing role in bank supervision due to Dodd-Frank.