- President Biden will nominate economist Adriana Kugler to fill an open board slot at the Federal Reserve.
- Kugler would become the central bank's first Latina policymaker in its history.
- Philip Jefferson, who Biden appointed to the Fed last year, will be promoted to vice chair if confirmed by the Senate.
- The dual nominations became the favored strategy in recent weeks as pressure mounted from Senator Robert Menendez.
- Kugler has a doctorate in economics and served as chief economist at the Labor Department in President Barack Obama's administration.
Bloomberg — Politics — Federal Reserve — Economy — Finance — Investment
Biden Picks Fed’s Jefferson for Vice Chair, Kugler for Governor
President Biden has nominated economist Adriana Kugler to fill an open board slot at the Federal Reserve, making her the central bank's first Latina policymaker. Philip Jefferson will be promoted to vice chair if confirmed by the Senate.