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Deals and People June 8, 2001
Bush to Nominate Susan Bies to Fed Board
June 8, 2001 (PLANSPONSOR.com) - President Bush will
nominate Susan Bies, a Tennessee bank official, as a member
of the Federal Reserve Board of Governors, according to a
senior White House official.
Reported by Camilla Klein
Bies, who is currently in charge of risk management at First Tennessee National Corp, a large regional bank holding company, was once an economist at the Fed’s regional bank in St Louis.
President Bush needs to fill five of the seven seats on the board, two of which have been vacant for over two years, and has already nominated Fed Vice Chairman Roger Ferguson, originally appointed during the Clinton administration, to a full 14-year term.
Board member, Edward Kelley Jr, recently announced his plans to step down as soon as a replacement can be found. Laurence Meyer, whose term expires early next year, has said that he will not seek reappointment.