Obama to nominate Powell, Stein as Fed governors

Reuters News

12/27/2011 12:43:46 PM - Reuters News

HONOLULU (Reuters) - President Barack Obama will nominate Harvard economics professor Jeremy Stein and former private equity executive Jerome Powell to the Federal Reserve Board of Governors, the White House said on Tuesday.

"I am grateful that these individuals have agreed to serve their nation at this important time for our economy," Obama said in a statement released from Hawaii, where he is vacationing with his family.

(Reporting By Laura MacInnis)