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December 28, 2011

White House Unveils Fed Nominees 
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The White House has announced plans to nominate two former Treasury
Department officials to the Federal Reserve. Jeremy Stein, a Democrat,
is a Harvard University professor who has served on the White House
National Economic Council and as an adviser to Treasury Secretary
Timothy Geithner. Meanwhile Jerome "Jay" Powell, a Republican, is a
former financial executive who worked under George H. W. Bush. He spent
nearly a decade with the private equity firm, the Carlyle Group, and
worked as a lawyer and investment banker on Wall Street.



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