President Joe Biden is considering nominating Austan Goolsbee, who recently became president of the Federal Reserve Bank of Chicago, as vice chairman of the Federal Reserve Board, The Wall Street Journal he reported on Wednesday.
If he is nominated and confirmed by the US Senate, he will succeed Lael Brainard, who Biden appointed Tuesday as the next director of the National Economic Council.
Goolsbee served in the White House as a member and then chairman of the Council of Economic Advisers from 2009 to 2011. Prior to his appointment at the Chicago Fed, he was a professor of economics at the University of Chicago’s Booth School of Business.
The WSJ he did not say when a decision on the position of Fed vice president is expected. They attributed the news to people familiar with the matter.
If he becomes the choice for Fed vice chairman, then the Federal Reserve Bank of Chicago will have to find a new chairman. Goolsbee didn’t start in that capacity until January 9.
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