Obama will nominate 2 economists, 1 lawyer to be Fed governors

The White House is planning today to nominate Federal Reserve Bank of San Francisco President Janet Yellen to be vice chairwoman of the Fed board. President Barack Obama also plans to nominate Peter Diamond, an economist at Massachusetts Institute of Technology, and Sarah Bloom Raskin, a Maryland state banking regulator, as members of the board, sources said. The nominations, if approved, will reshape the top ranks of the central bank during a key period for monetary policy and banking regulation.

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