SPONSORED:

Federal Reserve seats could take months to fill: report

Federal Reserve seats could take months to fill: report
© Getty Images

It could be months before the Trump administration fills three vacant seats on the Federal Reserve board, Reuters reported Thursday.

The White House is looking to have its nominees for the board vetted by the FBI and the Office of Government Ethics before publicly announcing the nominations, which could take months to complete. 

The slow pace of filling the Federal Reserve seats, including the position of vice chair in charge of banking oversight, could potentially stymie President TrumpDonald Trump Pence said he's 'proud' Congress certified Biden's win on Jan. 6 Americans put the most trust in their doctor for COVID-19 information: poll OVERNIGHT DEFENSE: Biden administration to evacuate Afghans who helped US l Serious differences remain between US and Iran on nuclear talks l US, Turkish officials meet to discuss security plans for Afghan airport MORE's efforts to overhaul financial rules and regulations. 

ADVERTISEMENT

Reuters reported that the White House had sought to name all three nominees at the same time. But Treasury Secretary Steve Mnuchin cast doubt on that plan last month.

The Federal Reserve's Board of Governors is currently chaired by Janet YellenJanet Louise YellenOn The Money: Biden announces bipartisan deal on infrastructure, but Democratic leaders hold out for more Yellen to travel to Italy next month to further efforts on global minimum tax The Hill's Morning Report - Presented by Facebook - Senators, White House to meet on potential infrastructure deal MORE, an Obama-era nominee whose term is up in 2018. Trump indicated on the campaign trail last year that he "would most likely replace her," but signalled a potential shift in thought in an interview with the Wall Street Journal last month.

"I like her. I respect her," Trump said at the time. "She's been in that seat. I do like the low interest rate policy."