Biden nominates Jefferson as Fed Vice Chair, Kugler to Fed Board

US President Joe Biden has nominated Federal Reserve Governor Philip Jefferson as the central bank’s vice chair. He has also put forward Adriana Kugler, the World Bank’s US executive director, as a Fed governor. Biden has also renominated Governor Lisa Cook for another 14-year term on the board. Jefferson has previously voted in favour of the Fed’s eight interest rate increases, while Kugler would be the first ever Latina on the Fed Board of Governors