Obama to Nominate Kathryn Dominguez as Governor on Fed Board

According to the White House, U.S. President Barack Obama plans to nominate Kathryn Dominguez to the Federal Reserve Board of Governors.

Ms. Dominguez is a professor of public policy and economics at the University of Michigan’sGerald R. Ford School of Public Policy, having previously taught at Harvard University’s Kennedy School of Government.

In a statement, Obama says Dominguez’s deep knowledge of the financial system, monetary policy and worldwide markets qualifies her to serve at “this important time for our economy”.

Dominguez, who is also a research associate at the National Bureau of Economic Research, has a background in foreign exchange rates, emerging markets, and worldwide borrowing, the White House said. Prior to becoming a professor at the University, she served on research staff of the Congressional Budget Office in Washington D.C. She also worked as a research consultant for the Federal Reserve System, worldwide Monetary Fund, World Bank and Bank for worldwide Settlements. “She brings decades of leadership and expertise from various roles, particularly from her years as a leading economist and academic”. Obama’s other nominee, former Bank of Hawaii head Allan Landon, has seen his confirmation process stalled in the Senate. She has a doctorate in economics from Yale University.

She has previous experience with the Fed as well, having served on advisory panels for the Federal Reserve Banks of Chicago and Cleveland, as well as working as a visiting scholar for the Fed’s Board of Governors in 2002.