Economist Jefferson Likely to Get Fed Seat Nomination

The transcript discusses the nomination of Phillip Jefferson to the Fed Board of Governors, highlighting the significance of his potential appointment as the fourth Black man in the board's history. It emphasizes the importance of diversity in the Fed, addressing criticisms it has faced. The discussion also covers the President's commitment to increasing diversity, as promised during the reappointment of Fed Chair Jay Powell. Additionally, it touches on future appointments needed to fill three more seats, including a critical vice chair of supervision role.

Who is Phillip Jefferson nominated to join?

• The United Nations

• The Federal Reserve Board of Governors

• The World Bank

• The Supreme Court

How many Black men have held a position on the Fed Board before Jefferson?

• Five

• Three

• Two

• Four

What was the President's promise regarding the Fed Board nominations?

• To increase the number of economists

• To appoint only women

• To reduce the number of governors

• To bring new diversity

What is one of the critical positions still to be filled on the Fed Board?

• Vice Chair of Supervision

• Chief Financial Officer

• Head of Monetary Policy

• Director of Economic Research

Why is the Vice Chair of Supervision position important?

• It oversees the Fed's budget

• It manages international relations

• It handles public communications

• It is crucial for the progressives of the President's party