Jeremy Stein's nomination to the Federal Reserve Board of Governors confirmed by US Senate.

Harvard Economics Professor Jeremy Stein, recently chosen by President Obama for the Federal Reserve Board of Governors, has now been confirmed by the US Senate. Stein had previously served the Obama administration in 2009, as a senior advisor to Treasury Secretary Timothy Geithner, while concurrently on staff at the National Economic Council.

At Harvard, Stein’s research has covered such topics as: behavioral finance and stock-market efficiency; corporate investment and financing decisions; risk management; capital allocation inside firms; banking; financial regulation; and monetary policy.

Bloomberg News reported on Stein’s recent testimony to a senate panel, prior to his confirmation: “When tightening monetary policy, the central bank must be careful not to have a ‘disruptive impact on markets.’ Unwinding the balance sheet ‘will be one of the most important tasks,’ he said.”

Also confirmed with Stein was attorney Jerome H. Powell, bringing the seven-member Federal Reserve Board of Governors to full strength for the first time since 2006.

For the White House announcement, please click here.

For a New York Times article on the confirmation, please click here.

For the full Bloomberg News article, please click here.