Editing Federal Reserve (section)

==== Nominations, confirmations and resignations ====
In late December 2011, President [[Barack Obama]] nominated [[Jeremy C. Stein]], a [[Harvard University]] finance professor and a [[Democratic Party of the United States|Democrat]], and [[Jerome Powell]], formerly of [[Dillon Read]], [[Bankers Trust]]<ref name=MW01/> and [[The Carlyle Group]]<ref>{{Cite web |title="Jerome Powell: Visiting Scholar" |url=http://www.bipartisanpolicy.org/about/economic-policy-project/jerome-powell |archive-url=https://web.archive.org/web/20111221012845/http://www.bipartisanpolicy.org/about/economic-policy-project/jerome-powell |archive-date=December 21, 2011}}</ref> and a [[Republican Party of the United States|Republican]]. Both candidates also have [[United States Treasury|Treasury Department]] experience in the Obama and [[George H. W. Bush]] administrations respectively.<ref name="MW01">Goldstein, Steve (December 27, 2011). [http://www.marketwatch.com/story/obama-to-nominate-stein-powell-to-fed-board-2011-12-27?link=MW_home_latest_news "Obama to nominate Stein, Powell to Fed board"]. ''MarketWatch''. Retrieved December 27, 2011.</ref>

"Obama administration officials [had] regrouped to identify Fed candidates after [[Peter Diamond]], a Nobel Prize-winning economist, withdrew his nomination to the board in June [2011] in the face of Republican opposition. [[Richard Clarida]], a potential nominee who was a Treasury official under [[George W. Bush]], pulled out of consideration in August [2011]", one account of the December nominations noted.<ref>Lanman, Scott; Runningen, Roger (December 27, 2011). [https://www.bloomberg.com/news/2011-12-27/obama-to-nominate-jerome-powell-jeremy-stein-to-fed-s-board-of-governors.html "Obama to Choose Powell, Stein for Fed Board"]. Bloomberg LP. Retrieved December 27, 2011.</ref> The two other Obama nominees in 2011, [[Janet Yellen]] and [[Sarah Bloom Raskin]],<ref>Robb, Greg (April 29, 2010). [http://www.marketwatch.com/story/obama-nominates-3-to-federal-reserve-board-2010-04-29 "Obama nominates 3 to Federal Reserve board"]. ''[[MarketWatch]]''. Retrieved April 29, 2010.</ref> were confirmed in September.<ref>Lanman, Scott (September 30, 2010). [https://www.bloomberg.com/news/2010-09-30/yellen-raskin-win-fed-board-confirmation-as-vote-on-monetary-easing-nears.html "Yellen, Raskin Win Senate Approval for Fed Board of Governors"]. Bloomberg LP. Retrieved December 27, 2011.</ref> One of the vacancies was created in 2011 with the resignation of [[Kevin Warsh]], who took office in 2006 to fill the unexpired term ending January 31, 2018, and resigned his position effective March 31, 2011.<ref>Censky, Annalyn (February 10, 2011). [https://money.cnn.com/2011/02/10/news/economy/fed_official_warsh_resigns/index.htm "Fed inflation hawk Warsh resigns"]. ''[[CNNMoney]]''. Retrieved December 27, 2011.</ref><ref>Chan, Sewell (February 10, 2011). [https://www.nytimes.com/2011/02/11/business/economy/11fed.html "Sole Fed Governor With Close Ties to Conservatives Resigns"]. ''The New York Times''. Retrieved December 27, 2011.</ref> In March 2012, U.S. Senator [[David Vitter]] ([[Republican Party of the United States|R]], [[Louisiana|LA]]) said he would oppose Obama's Stein and Powell nominations, dampening near-term hopes for approval.<ref>Robb, Greg (March 28, 2012). [http://www.marketwatch.com/story/senator-to-block-quick-vote-on-fed-picks-report-2012-03-28?link=MW_latest_news "Senator to block quick vote on Fed picks: report"]. ''MarketWatch''. Retrieved March 28, 2012.</ref> However, Senate leaders reached a deal, paving the way for affirmative votes on the two nominees in May 2012 and bringing the board to full strength for the first time since 2006<ref>Robb, Greg, [http://www.marketwatch.com/story/stein-sworn-in-as-fed-governor-2012-05-30 "Stein sworn in as Fed governor"], ''MarketWatch'', May 30, 2012. Retrieved May 30, 2012.</ref> with Duke's service after term end. Later, on January 6, 2014, the United States Senate confirmed Yellen's nomination to be chair of the Federal Reserve Board of Governors; she was the first woman to hold the position.<ref>{{Cite news |last=Lowrey |first=Annie |date=January 6, 2014 |title=Senate Confirms Yellen as Fed Chairwoman |work=The New York Times |url=https://www.nytimes.com/2014/01/07/business/economy/Yellen-Senate-Vote.html |url-status=live |url-access=limited |access-date=January 6, 2014 |archive-url=https://ghostarchive.org/archive/20220102/https://www.nytimes.com/2014/01/07/business/economy/Yellen-Senate-Vote.html |archive-date=January 2, 2022}}{{Cbignore}}</ref> Subsequently, President Obama nominated [[Stanley Fischer]] to replace Yellen as the vice-chair.<ref>{{Cite news |last=Puzzanghera |first=Jim |date=January 10, 2014 |title=Obama to nominate Stanley Fischer, 2 others to Federal Reserve seats |url=https://www.latimes.com/business/la-fi-mo-federal-reserve-stanley-fischer-obama-nominate-lael-brainard-20140110-story.html |access-date=December 26, 2021}}</ref>

In April 2014, Stein announced he was leaving to return to Harvard on May 28 with four years remaining on his term. At the time of the announcement, the FOMC "already is down three members as it awaits the Senate confirmation of ... Fischer and [[Lael Brainard]], and as [President] Obama has yet to name a replacement for ... Duke. ... Powell is still serving as he awaits his confirmation for a second term."<ref>Goldstein, Steve, [http://www.marketwatch.com/story/jeremy-stein-to-resign-from-federal-reserve-2014-04-03 "Jeremy Stein to resign from Federal Reserve"], ''[[MarketWatch]]'', April 3, 2014. Retrieved April 3, 2014.</ref>

[[Allan R. Landon]], former president and CEO of the [[Bank of Hawaii]], was nominated in early 2015 by President Obama to the board.<ref>Appelbaum, Binyamin, [https://www.nytimes.com/2015/01/07/business/allan-landon-community-banker-said-to-be-choice-for-federal-reserve.html "Allan Landon, Community Banker, Nominated to Federal Reserve"], ''The New York Times'', January 6, 2015. Retrieved January 6, 2015.</ref>

In July 2015, President Obama nominated [[University of Michigan]] economist [[Kathryn M. Dominguez]] to fill the second vacancy on the board. The Senate had not yet acted on Landon's confirmation by the time of the second nomination.<ref>Leubsdorf, Ben, [https://www.wsj.com/articles/president-obama-to-nominate-kathryn-dominguez-as-fed-governor-1437422626 "Kathryn Dominguez to Be Nominated for Fed Governor"], ''Wall Street Journal'', July 20, 2015. Retrieved July 20, 2015.</ref>

[[Daniel Tarullo]] submitted his resignation from the board on February 10, 2017, effective on or around April 5, 2017.<ref>{{Cite web |date=February 10, 2017 |title=Press Release, Board of Governors of the Federal Reserve System |url=https://www.federalreserve.gov/newsevents/pressreleases/other20170210a.htm |access-date=March 27, 2017 |website=Federal Reserve}}</ref>