Obama nominates economist Kathryn Dominguez to Fed board

President Barack Obama is nominating economist Kathryn Dominguez to serve on the Federal Reserve’s board of governors.

Obama touted Dominguez’s work as an economist in making the selection, saying she has “proven experience, judgment and deep knowledge of the financial system, monetary policy, and worldwide capital markets”. Their confirmations would bring the Fed Board to its full complement of seven members for the first time since August 2013. Dominguez’s research has focused on worldwide financial markets and exchange rate behavior. Former Bank of Hawaii CEO Allan Landon is filling the other vacancy on the board.

The Senate must confirm the nomination of Dominguez, who would represent the Fed’s Chicago region.

Independent Community Bankers of America President Camden Fine said he hoped Senator Shelby would hold hearings in September and “move these nominations along”. 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, global Monetary Fund, World Bank and Bank for global Settlements. “I am grateful she has chosen to take on this important role, and I look forward to working with her”, President Obama said in a statement.

Dominguez received her PhD in economics from Yale University in 1987.

Writing in 2012, she sketched out scenarios for the future of the euro. During this time, Dr. Dominguez also served as a Visiting Professor of Public Policy at the Goldman School of Public Policy at the University of California, Berkeley from 2008 to 2009 and as an Academic Visitor at The London School of Economics and Political Science from 2003 to 2004.