President Obama to Nominate Kathryn Dominguez as Fed Governor

By Ben Leubsdorf 
        WASHINGTON--President Barack Obama will nominate economist Kathryn 
Dominguez for a vacant seat on the Federal Reserve's powerful board of 
governors, the White House announced Monday. 


        "Dr. Dominguez has the proven experience, judgment, and deep 
knowledge of the financial system, monetary policy and international capital 
markets to serve at the Federal Reserve during this important time for our 
economy," Mr. Obama said in a statement. "She brings decades of leadership and 
expertise from various roles, particularly from her years as a leading economist 
and academic." 


        Ms. Dominguez is a professor of public policy and economics at the 
University of Michigan. If confirmed by the Senate, she would become one of the 
U.S. central bank's Washington-based governors and vote on monetary policy as a 
member of the rate-setting Federal Open Market Committee. 


        Two seats on the seven-member board of governors are vacant. Mr. 
Obama in January nominated former Bank of Hawaii chief executive Allan Landon to 
fill the other empty seat. Mr. Landon's nomination is pending before the Senate 
Banking Committee. 


        Ms. Dominguez' nomination could pave the way for the Senate to hold 
hearings on both nominees. Senate Banking Committee Chairman Richard Shelby (R., 
Ala.) has said he wouldn't schedule a hearing for Mr. Landon until Mr. Obama put 
forward a name for the other open seat. 


        "We'll see if they come up with two and we'll see what we can do," 
Mr. Shelby said in April. 


        David Harrison 


        contributed to this article. 


        Write to Ben Leubsdorf at ben.leubsdorf@wsj.com 


        (END) Dow Jones Newswires


        July 20, 2015 16:10 ET (20:10 GMT)

#Forex
#SaleForex
#PresidentObama
#NominateKathrynDominguez
#FedGovernor