Nathan Sheets, the Federal Reserve’s behind-the-scenes international emissary during the global financial crisis, is returning to the fray as Treasury Secretary Jacob J. Lew’s frontman on the world economic stage.
Nathan Sheets, a former Federal Reserve and Citigroup Inc. economist, will be nominated by President Barack Obama to be the Treasury Department’s top international official, the White House said in a statement today.
Stanley Fischer, the nominee for vice chairman of the Federal Reserve, disclosed assets of as much as $56.3 million and said he would sell his shares of financial companies including BlackRock Inc. if he is confirmed.
In Stanley Fischer, the Federal Reserve would gain a financial statesman with contacts and credibility around the world as it begins to pull back on record stimulus, possibly unsettling foreign markets.
Talks between the U.S. and China next month will assess shifting fortunes of the world’s two largest economies, as America emerges from a slump and Asia’s main engine of growth confronts fresh challenges, the U.S. Treasury Department’s top international official said.