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Wyoming had sought to intervene in the contentious lawsuit over master account access, citing concerns about its special purpose depository charter. The judge said it had no standing.
As Greg Becker, the former C.E.O. of Silicon Valley Bank, prepares to testify before Congress, boards that oversee regional Federal Reserve branches are in the spotlight.
Joe Biden also nominated the World Bank's U.S. executive director, Adriana Kugler, to be a Fed governor, adding a labor economist to the central bank's leadership ranks as policymakers judge how much further to raise interest rates and cool a strong job market that a number of them, including Chair Jerome Powell, see as aggravating inflation.
President Biden will ask the Senate to confirm Gov. Philip Jefferson for the No. 2 spot on the Federal Reserve Board; World Bank Group executive and Colombian-American Adriana Kugler for a vacant board seat; and Gov. Lisa Cook for a full term.
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Philip Jefferson was nominated for a key policy advisory role recently vacated when Lael Brainard took a top position in Biden’s White House economics team