WASHINGTON–Jean Nellie Liang has been nominated by the White House to be the next – and final – member of the Federal Reserve Board. If confirmed by the Senate, she would serve a 14-year term ending Jan. 31, 2024.
Liang, 60, is a senior fellow in economic studies at the Brookings Institution in Washington and a visiting scholar at the International Monetary Fund’s (IMF) monetary and capital markets department. She is a member of the Congressional Budget Office’s (CBO) panel of economic advisors.
Liang earlier served as a staff member for more than three decades at the Federal Reserve, most recently as director of the division of financial stability. While at the Fed she played a key role in the development of stress tests of major banks in 2009. In 2010, she was named by then-Fed Board Chairman Ben Bernanke to lead the new financial stability division, a position she held until last year when she joined Brookings.
Two other nominations for seats on the Fed board are pending in the Senate, for Michelle (“Miki”) Bowman, and Marvin Goodfriend. Neither have yet been scheduled for consideration by the Senate.