Profiles of the 2 nominees to Fed board

AP News
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Posted: May 17, 2012 6:17 PM
Profiles of the 2 nominees to Fed board

Profiles of President Barack Obama's two nominees to the seven-member Federal Reserve Board who were confirmed by the Senate on Thursday.

JEREMY STEIN

Born: Oct. 17, 1960

Education: Graduated from Princeton in 1983 and earned a PhD in economics from Massachusetts Institute of Technology in 1986.

Current job: Economics professor at Harvard University since 2000.

Previous jobs: Economics professor at MIT from 1990 to 2000. Also worked briefly in government, first as a senior staff economist at the Council of Economic Advisors in the administration of President George H.W. Bush, and later as a senior advisor at the Treasury Department and on the staff of the National Economic Council under President Barack Obama.

JEROME POWELL

Born: Feb. 4, 1953

Education: Graduated from Princeton University in 1975 and earned a law degree from Georgetown University in 1979.

Current job: Visiting scholar at the Bipartisan Policy Center since the summer of 2010.

Previous jobs: Worked as undersecretary for finance at the Treasury Department during the administration of President George H.W. Bush from 1990 to 1993. Also worked at investment bank Dillon Read & Co. and also at the Carlyle Group, a private equity firm.