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Nellie Liang withdraws nomination for Fed board seat
Source: Reuters
BUSINESS NEWS JANUARY 7, 2019 / 8:43 PM / UPDATED 4 HOURS AGO
Liang withdraws nomination for Fed board seat
WASHINGTON (Reuters) - Former Federal Reserve economist Nellie Liang said on Monday she had withdrawn her nomination for a seat on the Fed’s Board of Governors, citing concern over a lengthy Senate confirmation process.
“I have decided to withdraw my name from consideration to be a member of the Board of Governors of the Federal Reserve because the likelihood of a prolonged process could have left me in professional limbo for too long,” Liang said in a statement.
President Donald Trump, who has criticized the central bank for raising interest rates, nominated Liang in September.
Liang, who established the Fed’s Division of Financial Stability in 2010, left the central bank two years ago to join the Brookings Institution think tank.
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Liang withdraws nomination for Fed board seat
WASHINGTON (Reuters) - Former Federal Reserve economist Nellie Liang said on Monday she had withdrawn her nomination for a seat on the Fed’s Board of Governors, citing concern over a lengthy Senate confirmation process.
“I have decided to withdraw my name from consideration to be a member of the Board of Governors of the Federal Reserve because the likelihood of a prolonged process could have left me in professional limbo for too long,” Liang said in a statement.
President Donald Trump, who has criticized the central bank for raising interest rates, nominated Liang in September.
Liang, who established the Fed’s Division of Financial Stability in 2010, left the central bank two years ago to join the Brookings Institution think tank.
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Read more: https://www.reuters.com/article/us-usa-fed-liang/liang-withdraws-nomination-for-fed-board-seat-idUSKCN1P203E
