Obama nominates Dominguez for Fed board

WASHINGTON President Barack Obama has chosen Kathryn Dominguez, an economist on the University of Michigan, to hitch the Federal Reserve Board of Governors, the White House stated on Monday.

Her current research has focused on the factors behind the USA economy’s slow recovery from the recession and she has written several scholarly articles on foreign exchange rate behavior and other topics.

The economist will be the second Fed board nominee Obama has put forward in recent months.

“She brings decades of leadership and expertise from various roles, particularly from her years as a leading economist and academic”.

Sen. Sherrod Brown of Ohio, the ranking Democrat on the Banking Committee, said Dominguez’s nomination “deserves a full, fair, and prompt consideration” in the panel, which has yet to hold hearings on Landon’s nomination under Chairman Richard Shelby, R-Ala.

Dominguez has an A.B. from Vassar College and a Ph.D.in Economics from Yale University.

If confirmed, she would fill a spot at the seven-member board that is now making do with just 5 governors. Former Public Policy and economics professor Edward Gramlich served on the board from 1997 to 2005 and also chaired the Committee on Consumer and Community Affairs. In 2003-4, she was an academic visitor at the London School of Economics and Political Science and in 2008-9, served as a visiting professor at the University of California, Berkeley.

Kathryn Dominguez is a public policy and economics professor at the University of Michigan.

Fed governors are nominated by the president and confirmed by the Senate. Earlier in her career, Dominguez had stints at the World Bank, the global Monetary Fund, and the Bank for global Settlements.