President Barack Obama plans to nominate Jerome Powell, a former partner at Carlyle Group LP, to serve another term on the Federal Reserve Board, according to a government official briefed on the matter.
Janet Yellen as Federal Reserve vice chairman has spent time building relationships across the Fed’s regional banks and with central bankers from Shanghai to London to Mexico City -- everywhere except the corridors of power in Washington.
House Republicans are probing whether the White House and Democrats in Congress were promised political support from drugmakers in exchange for limiting what the industry would be asked to contribute under the 2010 health- care overhaul, according to a memo.
Federal Reserve Chairman Ben S. Bernanke’s efforts to rescue the economy could result in more than a half trillion dollars of paper losses on the central bank’s books if interest rates rise abruptly from recent levels.
Elizabeth Duke’s resignation from the Federal Reserve Board and Chairman Ben S. Bernanke’s potential departure in January could set off a series of vacancies and appointments that give President Barack Obama the opportunity to leave his mark on the Fed for a decade or longer.