Best Growth Stock – U.S. President Barack Obama has proposed as new members of the governing council of the U.S. Federal Reserve (Fed) to Jerome H. Powell, an exalted position in the administration of George W. Bush and Jeremy C. Stein, a professor of economics at Harvard University, according to the White House said in a statement.
Obama was grateful that both have agreed to serve his country “at this important time in the economy.” “His distinguished background and experience, along with his impressive knowledge of economic and monetary policy, makes them fully qualified to perform these roles so important,” he added.
Powell, a lawyer and investment banker, was a partner from 1997 to 2005 of The Carlyle Group and later served as Undersecretary of Treasury Finance in the Bush administration, with responsibility for policy areas such as financial institutions or the market for Treasury debt.
Meanwhile, Stein is since 2000 professor of economics at Harvard University and between February and July 2009 served as consultant to the Secretary of the Treasury and the National Economic Council of the Obama administration.
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