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White House eyes ex-banking lawyer for Fed: report
WASHINGTON (MarketWatch) -- The White House is considering nominating a former lawyer for the American Bankers Association to the board of the Federal Reserve, according to Reuters. Two sources told Reuters the Obama administration is considering Diana Preston, who recently left the ABA. The Fed is now operating with just four of its seven board positions filled. Two nominees are awaiting congressional confirmation, and with another governor set to retire in a month, there would still be two vacancies. The White House may fill one of the openings with someone with banking experience, as opposed to an economist, people familiar with the process told Reuters.
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