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Window closing for Obama to fill Federal Reserve board


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2553189Washington Examiner:

President Obama is close to missing a significant opportunity to influence monetary and regulatory policy for years to come.


With Congress running out the few legislative days it has before the November elections, Obama has not nominated candidates for the two open positions on the Federal Reserve Board of Governors. If Republicans take control of the Senate, Obama's ability to appoint his preferred candidates would be limited.


The White House did not respond to a request for comment about its plans for nominating officials to the seven-member board, and lawmakers on the Senate Banking Committee who would handle any nominations declined to say whether the administration had notified them of plans to submit candidates.


In the past however, the Obama administration has been slow to name candidates to the board, which is responsible for oversight of U.S. banks and conducting the nation’s monetary policy.Scissors-32x32.png

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