Impact of US Debt Default - Jerome Powell talked about recent analysis by the Bipartisan Policy Center that found that if the debt ceiling is not raised, the government could not afford to meet 44 percent of its obligations. This video originally aired on Wed. July 6, 2011 LinkNovember 14, 2011
Treasury official Powell eyed for Fed board spot
The White House is seriously considering naming Jerome Powell, a former Treasury official in the George H.W. Bush administration, for one of the two vacancies on the Federal Reserve Board, the Wall Street Journal said, citing people familiar with the administration's deliberations.
Powell worked on Wall Street before joining the Treasury in 1990 and eventually became undersecretary for domestic finance. After leaving the Treasury in 1993, he worked as a partner at private equity firm Carlyle Group for eight years, the Journal said.
Officials cautioned that no announcement was imminent, the paper said.
"The President has made no final decisions on who he will name to the two vacant seats," Amy Brundage, a White House spokeswoman, told the Wall Street Journal.
Powell did not have any comment, the newspaper said.
The White House Press Office and Jerome Powell could not immediately be reached for comment by Reporters outside regular U.S. business hours.
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